How do effective internal controls help an organization

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1) Class, what factors may be responsible for whether Toyota's image endures long-term versus short-term negative effects?

2) Explain how a "two-tier" structure for the board of directors such as the one in Germany differs from the unitary approach in the U.S. Do you think the two-tier system better serves the goal of having strong and effective corporate governance?

3) Class, the Institute of Internal Auditors states in its November 2005 issue of "The Tone at the Top" that businesses can rely on an industry standard, Internal Control - Integrated Framework, to comply with certain provision in the Sarbanes-Oxley Act by assessing and enhancing companies' internal control systems. How do effective internal controls help an organization to promote efficiency, minimize risks, help ensure the reliability of financial statements, and comply with regulations?

4) Class what is the difference between a rules-based and principles-based approach to accounting standard setting?

Reference no: EM131813918

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