Effectiveness of internal controls be performed objectively

Assignment Help Business Management
Reference no: EM133153479

QUESTION 1

Communication is an important skill of a professional accountant. This includes communicating with outside sources for reporting financial information and accessing industry trends. List five sources of external information that should be monitored.

QUESTION 2

Management should use the COSO Framework to design Control Activities to support the achievement of objectives. But that's just the beginning. Those activities need to be tested to determine if they work and are followed but the time and effort required to test all of them does not have a positive cost-benefit analysis. How does management and the external auditors determine which controls are to be tested?

QUESTION 3

How can the testing of the effectiveness of internal controls be performed objectively?

QUESTION 4

What are some of the benefits of using blockchain? What are the risks of an organization's usage?

Reference no: EM133153479

Questions Cloud

Executive agency or independent regulatory agency : Is the SEC an executive agency or an independent regulatory agency? Does it matter to the out-come of this dispute? Explain.
Cash flows classifies cash receipts and cash payments : A statement of cash flows classifies cash receipts and cash payments into what 3 categories of activity?
SaaS CAD-CAM system for small manufacturing firms : There are several steps to implementing a SaaS CAD/CAM system for small manufacturing firms.
Define each costing system : Define each costing system. Compare/contrast the two costing methods on a minimum of four different characteristics.
Effectiveness of internal controls be performed objectively : How can the testing of the effectiveness of internal controls be performed objectively? What are some of the benefits of using blockchain?
Calculate monthly payment in your retirement account : Calculate the monthly payment in your retirement account in order to be able to achieve the plan mentioned above?
Misclassify inventory as fixed asset : What would motivate you to speak up if your controller asked you to misclassify inventory as a fixed asset?
Implementing activity-based costing in organization : Do you think implementing activity-based costing in an organization to make better business decisions is worth the added expense? Why, or why not?
Different types of nonlabor costs for a project : Discuss the different types of nonlabor costs for a project like Direct Materials.

Reviews

Write a Review

Business Management Questions & Answers

  Employees needs and relationship the leading factor

Why are employees needs and relationship the leading factor that needs to be considered in the business?

  Prepare a survey that your team will give to all restaurant

Prepare a survey/questionnaire (6-8 questions) that your team will give to all restaurant employees and managers about process improvements.

  Value of truth in a democracy or republic

How can restricting access to information be squared with freedom of speech and the value of truth in a democracy or republic?

  Produce in order to raise government income

What will happen to consumer and producer surplus and deadweight loss if the government imposes a tax on sellers for each ratio they produce in order to raise government income?

  Identify an organization in need of change

What are the key challenges and dilemmas in the change situation? What key traits should the change leader have?

  Inventory management systems due week 2 and worth 100

inventory management systems due week 2 and worth 100 points your sister owns a small clothing store. during a

  Research various codes of ethics in marketing research

Research various codes of ethics in marketing research. Explain how the codes of ethics support conscious capitalism. Why might someone prioritize ethics

  What is weighted average cost of capital for company

How many outstanding shares does the company have? What is the Weighted average cost of capital (WACC) for the company?

  Explain the procedure for risk assessment

Explain the factors that need to be considered and influence the assessing of risk within a salon or spa environment.

  What actions and step should studio five take against marwan

What actions and steps should Studio Five take against Marwan? Explain what actions you considered and why you either recommend them or reject them.

  Combine any two segmentation bases for targeting

Combine any two segmentation bases for targeting each of the following products. Explain your choices.

  Describe the value proposition and investment requirements

Identify a venture that has received initial funding and describe the value proposition and investment requirements.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd