Importance of the internal controls

Assignment Help Auditing
Reference no: EM1350923

1. Please explain the importance of the internal controls necessary to account for cash, purchases, and sales?

2. Please explain the internal control for inventory and the types of systems?

3. Please explain what the Sarbanes-Oxley act is?

4. Please explain the 6 principles for internal control?

Reference no: EM1350923

Questions Cloud

Explain what is the appropriate attire for men : Explain what is the appropriate attire for men and women on casual workdays and What does your frame look like
Interanl audit and internal control system : While not commonly discussed in the realm of risk management, the internal control system of an internal audit is a valuable tool for the risk manager.
Determine average receivables balance : Dyl Pickle Corporation had credit sales of $3,500,000 last year and its days sales outstanding was DSO = 35 days. Determine its average receivables balance, based on a 365-day year?
Explain why change is so difficult for organizations : Explain why change is so difficult for organizations and Propose ways that human resource (HR) specialists can assist in making change easier
Importance of the internal controls : Please explain the importance of the internal controls necessary to account for cash, purchases, and sales?
Performance reward system : Aside from monetary, what rewards could you put in place and what output and outcome measures could you use?
Explain marketing techniques by traditional businesses : charities are using marketing techniques very similar to the ones used by traditional businesses and are there any issues related to this practice that you would like to raise
Explain utilitarian theory tells us about the morality : What do you believe utilitarian theory tells us about morality of such questions as abortion, capital punishment, or euthenasia? Is utilitarian theory helpful in deciding these questions?
Important information about gaming management : Important information about Gaming Management - Explain why nongaming entertainment options might help or hurt a casino's business.

Reviews

Write a Review

Auditing Questions & Answers

  Internal audit

Describe and evaluate this type of internal audit. What types of organisation would it be most useful for?

  Accounting professional and ethical standards

Code of Ethics for Professional Accountants

  Prepare swag''s consolidated balance sheet

Prepare Swag's consolidated balance sheet

  Auditing and assurance

Notable operational challenges for 4X Heavy Ltd faced in 2012/2013 were but not limited to

  State of the company’s industry and associated risk factors

Audit partner is concerned about his lack of knowledge of the industry the company is operating in, state of the company's industry and associated risk factors

  Prepare a memo to the audit partner

Prepare a memo to the audit partner on the ‘state of the company's industry' and associated risk factors.

  Adjusting or non- adjusting events

State whether Event is adjusting or non-adjusting event.

  Audit financial data

As a consequence an accounts payable clerk and financial accountant were made redundant from the business during the year.

  Identify principal audit risk

To identify principal audit risk and corresponding audit procedures

  Auditing and assurance

Show the audit inherent risk and rate the risk as low, medium or high.

  National health reform

Explain the role of the following three 'bodies' in National Health Reform

  Prepare a memo on the state of the company''s industry

Prepare a memo on the 'state of the company's industry' and associated risk factors.

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