By Dimitris N. Chorafas (auth.)
Read or Download Implementing and Auditing the Internal Control System PDF
Best managerial books
Construction Accounting & Financial Management, 2nd Edition
This e-book takes common company accounting and monetary rules in addition to engineering economics and adapts them to the original features of the development undefined. It offers the entire key monetary administration ideas wanted by way of development managers lower than one conceal, addressing how they're utilized within the building and the way they have interaction.
Accounting and Financial System Reform in a Transition Economy: A Case Study of Russia
A lot has been written concerning the fiscal and political difficulties of nations which are within the strategy of altering from centrally deliberate structures to marketplace structures. such a lot stories have keen on the industrial, felony, political and sociological difficulties those economies have needed to face throughout the transition interval.
Financial Services Anti-Fraud Risk and Control Workbook
Myth-busting suggestions for fraud preventionin a pragmatic workbook formatAn first-class primer for constructing and imposing an anti-fraud application that works, monetary providers Anti-Fraud possibility and keep an eye on Workbook engages readers in an soaking up self-paced studying event to increase familiarity with the sensible elements of fraud detection and prevention at banks, funding organizations, credits unions, insurance firms, and different monetary companies prone.
The Encyclopedia of Finance, moment version, constructed from over a thousand person definitions and chapters, is the main accomplished and up to date source within the box, integrating the most up-tp-date terminology, study, concept, and useful purposes. Showcasing contributions from a global array of specialists, the revised version of this significant reference paintings is unprecedented within the breadth and intensity of its insurance.
- Maximizing Corporate Value through Mergers and Acquisitions: A Strategic Growth Guide
- Accounting for the Environment. More Talk and Little Progress
- Strategic Business Planning for Accountants: Methods, Tools and Case Studies
- Handbook of Management Accounting Research, Volume 3
- Kosten- und Leistungsrechnung der Bilanzbuchhalter : mit Übungsklausuren für die IHK-Prüfung
- Strategy, Value and Risk: A Guide to Advanced Financial Management
Additional resources for Implementing and Auditing the Internal Control System
Example text
Grant, of the Auditing Practices Board in London. ' Jonathan Grant also underlined the danger that line management might leave internal control duties to somebody else down the line of command. Therefore, he suggested that the definition must specifically emphasize management's accountability - as internal control is everybody's business and every employee, from top to bottom, should care for it and for its deliverables. Speaking of deliverables, the report on risk management and control guidance for securities firms by the Technical Committee of the International Organization for Securities Commissions (IOSCO) (1998) has helped in establishing a rigorous approach to capturing non-measurable risks by primarily relying on qualitative assessments.
Is each auditor periodically reporting his or her progress in completing the frequency and scope schedule? Does the board's auditing committee approve significant deviations, if any, from the original programme? In order to improve overall efficiency, and add value to auditing work, the audit methodology should itself come under scrutiny. Are different entry dates and time periods between reviews scheduled so as to frustrate anticipation of entry dates by auditees? Are controls on opening and closing general ledger and other accounts adequate?
Beata Stelmach of the Polish Securities Commission wrote that: '[Internal] control is overseen by the banks' management boards and executive committees as a part of their daily activities. ' As the careful reader will observe, a positive characteristic of these opinions is that they are not cloning one another. Among themselves they define a whole spectrum of internal control policies and activities - which is why they are so valuable. For a long time in my professional practice I have come to appreciate that learned opinions which complement one another help in opening one's perspective.