There are three specific types of audits that my firm has to offer. The first is an operational audit; an example of this would be in evaluating the payroll processing completed through computer programs. The benefit of performing this type of operational audit is to establish if it is effective and efficient in operational controls. Another audit that can be performed by the firm is an compliance audit. This determines whether requirements for specific agreements are maintained to be in compliance with specific needs.
Utilitarianism focuses on: | | | | | Correct Answer: | the consequences of an action. | | | | | Question 3 | | | Equity Capital Corporation provides other firms with funds to expand operations. Questions of what is ethical involve the extent to which Equity has | | | | | | Correct Answer: | an ethical duty beyond those duties mandated by law. | | | | | Question 4 | | Establishing which duties take priority over others determines a firm's views on corporate social responsibility. | | | | Correct Answer: | True.
Assurance services are a “broad range of information enhancement services provided by CPA firms, [sic] such as ours” (Whittington & Pany, 2008, p. 2). The goal of an assurance service is for the CPA firm to issue a report about the reliability of an assertion made by the audited entity. There are four different categories of assurance services: audit of historical financial statements, effectiveness of internal control over financial reporting, review of historical financial statements, and other attestation services that may be applied to a broad range of subject matter (Arens, Elder, & Beasley, 2006, p.
COSO Plan Adoption Law/531 May 21st, 2012 Elizabeth Harrison COSO Plan Adoption Identifying and minimizing risk is essential for an organization to succeed. During the planning process an organization should adopt a structure for its corporate compliance plans to identify and minimize risk. Organizations can create their own plans or rely on organizations that specialize in enterprise risk management. The Committee of Sponsoring Organization of the Treadway Commission (COSO) is an example of an organization that offers structures of enterprise management. The purpose of this paper is to review and identify the most powerful recommendations from COSO and summarize the benefits of adopting the COSO structure as a corporate compliance
Why consider an organization’s approach to IM/IT resources and services as an exercise in portfolio management? •forces you to relate specific IT investments with the associated business need(s) and value propositions •provides a framework and standardized lens for the assessment of all IM/IT investments as well as measures for valuing those investments •focuses on a methodology for the valuation of IM/IT projects that connects well with the understandings of enterprise business leaders and IT governance •allows for year to year measurement of changes in IM/IT investments versus the impact (attributed results generated) by those investments •allows for qualitative if not quantitative comparisons between various IM/IT investments pursued by business units within the same enterprise and conceivable between competing businesses within the same industry How does an IM/IT portfolio management methodology help to serve the needs of the greater organization and facilitate a better appreciation by the business of its IM/IT products and services? •the organization has the following information resource management needs: • o to transact o to manage, control, make tactical decisions o to innovate, transform, increase its strategic competitiveness o control costs and improve overall performance •the portfolio model tracks and measures IM/IT project and service value and performance in the very manner that the business thinks of and measures value in these and any other corporate investments; aligning the description of and thinking about IM and IT investments in this manner allows for a common basis for understanding •IT transactional value is all about cutting operational costs and/or improving the efficiency of existing operations. •IT informational value is all about enabling management, control, and decision making. •IT strategic value is all
Question: (TCO 4) What are some of the phases of a best-practice, business-process reengineering methodology? 8. Question: (TCO 4) Which of the following are characteristics of a very complex process? (This question may have one or more answers. For full credit, check all that apply).
Assignment 1 - 40262/Y1 Human resource plans and organisational context Executive Summary The aim of this report is to identify improvements that may be made to the current HR records system held by X. Research methods have included interviews with Senior Managers, Junior admin staff charged with maintaining the system and questionnaires for practice (field) staff who provide information on staff to keep the records system up to date. Relevant and recent literature on the subject of personnel record keeping has also been researched. This report has found that whilst the information required to be held is available, the current manual system and the reliance on the data provided by the database in finance is causing managers
Financial Statements Paper ACC/280 YOUR NAME University of Phoenix INSTRUCTOR NAME DATE Financial Statements Paper Accounting provides an exceptional contribution to the success of any small or large company. More specifically, accounting assists company owners in their management decisions by providing valuable financial information. Financial accounting is regulated by rules and concepts recognized as “generally accepted accounting principles” (GAAP). The GAAP requires four financial statements which include: the balance sheet, income statement, statement of cash flow, and statement of owner's equity. In this paper, the purpose of accounting and the four financial statements and how they correlate with each other will be discussed.
Are these components always necessary? Explain your answer. What is the benefit of evaluating an internal control system in phases? Explain your answer. ACC 544 Week 4 Learning Team Assignment Controls for Inflows Design a proposal for appropriate controls to cover cash, sales, accounts receivable, inventory, and production Discussion
True (f) The objective of financial reporting is the foundation from which the other aspects of the framework logically result. True E2-4 Instructions Identify the appropriate qualitative characteristic(s) to be used given the information provided below. (a) Qualitative characteristic being employed when companies in the same industry are using the same accounting principles. Comparability (b) Quality of information that confirms users’ earlier expectations. Confirmatory value (c) Imperative for providing comparisons of a company from period to period.