What are compensating controls

Assignment Help Financial Accounting
Reference no: EM131816146

1. What are compensating controls and how do they relate to segregation of duties and internal control? Give some examples.

2. If a company has a audit performed on their financial statements, Does this guarantee that there is no fraud contained in the financial statements?

Reference no: EM131816146

Questions Cloud

Draw the pareto diagram and describe what you see : Possible sources include the Internet, your firm, a local business, your own experiences, or the library. Draw the Pareto diagram and describe what you see.
Net income plus interest? payments : What is? Pelamed's 2012 net? income? What is the total of? Pelamed's 2012 net income plus interest? payments?
Displaying and summarizing data : At this point, are they mainly concerned with data production, displaying and summarizing data, probability, or performing statistical inference?
Discuss the plausibility and probable reliability : Discuss the plausibility and probable reliability of each of the cost drivers-number of employees or number of reports.
What are compensating controls : What are compensating controls and how do they relate to segregation of duties and internal control? Give some examples
Obtain some quantitative data relating to quality : Obtain some quantitative data relating to quality. Possible sources include the Internet, your firm, a local business, your own experiences, or the library.
Compute the amount of phantom profit : Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.
Describe the importance of format or find a quality support : Describe the importance of format OR find a quality support that proves format does not matter in the context of the professional environment.
Investigate the quality of teaching of a professor : A department head wants to investigate the quality of teaching of a professor who is coming up for tenure.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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