Justification for internal control system

Assignment Help Auditing
Reference no: EM1350648

Leadership confronts you, as a controller, and questions the need for an internal control system.

Write a report in 700 words, justifying the need for the system when controls are in place with insurance and portfolio approaches.

Explain why current approaches are valid but why an internal control system will be more beneficial.

Reference no: EM1350648

Questions Cloud

Internal control-management : Internal control has gained increasing importance among management, external auditors, regulators, and others. Use a specific example that illustrates the answer.
Illustrate wow would the existence of such insurance affect : Illustrate wow would the existence of such insurance affect the amount of clothing that people buy. How would you evaluate this change in behavior from the standpoint of economic efficiency.
Improve performance in the workplace : Improving performance in the workplace
Find the maximum vertical height increase of the ball : A reflecting, spherical Christmas tree ornament has a diameter of 20 cm. A child looks at the ornament from a distance of 40 cm. define the image she sees. Where is the image locate.
Justification for internal control system : Write down a report in 700 words, justifying the need for the system when controls are in place with insurance and portfolio approaches.
Show the customer relationships : Customer Relationships - Show the lessons that organizations can learn about customer relationships and customer contact employees
What desire to purchase does not vary with time : What desire to purchase does not vary with time. Ignore the time value of money and compute the optimal pricing scheme of the iPhone.
Write and test c program which outputs waveform : Write and test a C program which outputs waveform which switches from 10.0 kHz with a 50% duty cycle to 25.0 kHz with a 5% duty cycle every 5 seconds.
Authoritarian and permissive parenting style : Whether children are exposed to an authoritative, authoritarian, or permissive parenting style can have a great impact on how children handle challenges in their lives.

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