Concept of internal controls only applies to accounting team

Reference no: EM133354923

Assignment:

Overview

You just joined a new company in the retail industry as an HR manager in the head corporate office that recently went public.

Prior to going public, the company was not very organized and there was a significant amount of employee turnover across several departments in the organization. Proper controls were not implemented. Now that the company has gone public and the importance of complying with SOX, implementing proper control measures is a key task for your team.

The HR department of your new company oversees the following:

Recruitment
Talent Development
Learning and Development
Payroll
Regular HR duties
Ethics and Business conduct
Strategy and Leadership

Some key information that you find out about your new company:

Revenue for the last year is about $200 million
There are 1500 employees
There has been a significant amount of turnover in the past
Executives have allowed family members to work at the head office
Employees are always complaining about their pay statements not adding up to the pay agreed by their hiring managers
There have been several disagreements among employees as they have found confidential information on their colleagues with respect to pay information on the computer internal HR drive
A corporate executive was recently fired as it was identified that he provided false information with respect to his professional education qualifications
The internal learning database is significantly outdated and there is old curriculum which employees are still using to update their skills

Task 2:

In addition to the above task (I have already answered this), I'm receiving some pushback from some of the HR senior managers. They are not impressed with the auditors and are complaining that this concept of "internal controls" only applies to the Accounting team. They said something about how fraud and internal controls is solely the responsibility of the Accounting department. Can you please do some research and identify 2 scholarly business sources that either agree or disagree with their concerns? I don't know much about this and would appreciate your expertise."

Reference no: EM133354923

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