Ensuring sound operations and transaction processing

Reference no: EM13817941

Provide an original and substantive response to the questions posed in your Journal in a minimum of 200 words.

You read about various internal controls that should be in place for ensuring sound operations and transaction processing. Internal control is a favorite topic of auditing students, since a lot of the internal controls you learned about can be applied to your jobs right now! Students enjoy bringing these internal control suggestions to their supervisors to improve processes.

What are some control weaknesses you now see at your current (or past) jobs that you did not see before?
What are your suggested improvements?
If you do not have work experience to apply internal controls to, what are some controls you learned about that you were not aware of previously? Explain those controls and how they help prevent errors and fraud.

Reference no: EM13817941

Questions Cloud

Accept formal project management processes : Persuade a hypothetical senior manager that reluctant to fund and accept formal project management processes. Provide your strongest two or three supporting pieces of evidence in your answer.

Account for contingencies rests : 1. The responsibility for designing and maintaining policies and procedures to identify, evaluate, and account for contingencies rests with whom?

Calculate the total direct materials variance : Direct materials cost variance $8,000 U Direct materials efficiency variance 35,000 F Direct labor cost variance 15,000 F Direct labor efficiency variance 12,000 U Total variable overhead variance 7,000 F Total fixed overhead variance 3,050 F Calc..

Office resources for personal tasks : If you believe her behavior is unethical, what controls could be in place to prevent it? Have you ever used office resources for personal tasks? Under what conditions could such use of office resources be justified?

Ensuring sound operations and transaction processing : You read about various internal controls that should be in place for ensuring sound operations and transaction processing. Internal control is a favorite topic of auditing students, since a lot of the internal controls you learned about can be app..

To curb the influence of that powerful lobby : Voters in the State of California decide that the tobacco industry is having too great an impact on the outcome of local referenda limiting smoking in public places.

Stands for maintenance and operation cost : The following table summarizes information which are associated with three new 3D Printers being considered for use in a manufacturing plant. Note that M&O stands for Maintenance & Operation Cost.

Marginal utility per dollar spent on product alpha : If you know that the marginal utility per dollar spent on product Alpha is less than the marginal utility per dollar spent on product Beta, consumers who spend all their income on these two products can:

Adapt and learn-discourages disagreeing : What happens to an organization when it does not “adapt and learn”? Bureaucracy undermines “new thinking”, discourages disagreeing, misallocates power, it is an enemy of “resilience”, the government, will “stall” if it does not “adapt and learn”.

User Account

All Pages