...of internal communication of a reputed consulting firm that has widespread reach on domains such as media intelligence, PR, consulting and training to undergraduate students. The research process included conducting in depth interviews with two of the department heads and also with a reporting subordinate. Other sources include organizational statements posted online and the behavioural aspects of employees as monitored before and during the interview process. The research draws attention to key findings that the organisation fosters open communication and there is a strong commitment from top management towards employees. The communication channels applied most frequently are informal, such as word-of-mouth and telephone coupled with a company intranet or emails which the employees can access. The dialogic communication has paved way for strong interpersonal relationships between the employees. While the firm’s operations are currently goal oriented, as the firm plans to enlarge its scale, operations will lean towards being process oriented. In such situations it will be difficult to sustain an informal communication structure and there will be a realization for a more formal communication structure. The report evaluates this range and concludes that even though the current communication practices in the organization are satisfactory, there is always a scope for improvement as there as in scenarios of expansion. The organization should strategize communication culture to maintain...
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...Introduction In preparation for an accreditation audit, I will discuss the current communication compliance status of the organization based on the Nightingale Community Hospital’s previous Joint Commission Survey. A corrective action plan will be submitted to ensure compliance with the Joint Commission along with a brief summary on why a communication review is important to the hospital. Body A. In reviewing the Joint Commission (TJC) survey results on Nightingale Community Hospital from 2 years prior, communication was cited on a direct finding relating to a Leadership Standard (Joint Commission Perspectives, 2013). Further review indicates that miscommunication is associated to the other 5 findings, as well. Noguchi (2013) discusses medical errors resulting from miscommunication, adding that medical errors may rank as the third leading cause of death in America. For the purpose of this executive summary, the focus will remain on Leadership standard LD.04.01.05 and its direct finding that hospital leaders did not effectively communicate a functional screening criteria policy to staff nurses. Nightingale Community Hospital (NCH) currently utilizes a pre-procedure hand-off form and site identification and verification process/policy to ensure that correct patient, site, and procedure is completed in surgery. The pre-procedural hand-off is a detailed checklist that aids the nurses from hand-off to accepting patient prior to a procedure. Although detailed, several key...
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...Apple Brand Communications Audit Analysis 1.Assessment of Apple’s Website: After browsing Apple's official website, I think it did quite successful with an overall sense and expression of Apple’s brand image. From my own perspective, I like Apple's official website design style, simple and sophistication. On the homepage, the advertisement in the middle catches the eye, with a big post and link to the related products. Colors are also designed to be simple and fresh on the homepage, adapting to Apple’s brand concept and making customers feel comfortable when browsing their website, which will interest customers to learn more information about this company's products and will give customers a perfect user experience. Secondly, I think Apple's official website has great usability, which classified every of its main products in the top homepage clearly, so that the major product information can be easily found and clicked on to get further detail information, such as the valuable product description and the best characteristic features of products. Design is the key of Apple’s concept, ease of use and simple of look differentiate all those “i”-products with others. In addition, Apple 's official website was also set up a product search, so that visitors can search for the information they want to get in the first place. And online customer service setting can promptly solve the customer problems for the product. Overall, everything in their website is very humanized. 2...
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...Submission 3.1: Plan an external corporate communications audit An external corporate communication audit requires for corporate communication for developing strategy. Knowledge in communication is required for executives to develop proper communication strategy and determine main issue for developing functions for major public issues. The proper strategy ensures inner messages for communication that perceive intended audience. For developing a corporate communication strategy, organization is not necessary and required to develop process. The productive strategy is affected by the organization as a whole performance evaluation to determine strategic goals. It is important for developing internal and external environment....
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...DQP 29 & 31 Case 6-32 a. A review provides limited assurance about the fair presentation of financial statements in accordance with generally accepted accounting principles but far less assurance than an audit. Presumably, the bank decided that the assurances provided by a review were needed before a loan could be approved, but an audit was not necessary. A review includes a CPA firm performing analytical procedures, making inquiries about the fair presentation of the statements, and examining the information for reasonableness. Because of a CPA firm’s expertise in accounting, the accountant from the CPA firm can often identify incorrect presentations in the financial statements that have been overlooked by the accountant of the company. Reviews are common for smaller privately-held companies with relatively small amounts of debt. The bank probably did not require an audit because the additional cost of an audit was greater than the benefit the bank perceived. In many cases, the decision as to whether to have a review or an audit is negotiated between the company seeking a loan and the bank loan officer. Both the company and the bank have options in negotiating such things as the amount of the loan, the rate of interest, and whether to require an audit or a review. The bank can reject the loan request and the company can go to other banks that want to make loans. Frequently, banks have a list of CPA firms in which they have considerable confidence due to their reputation...
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...CPA Program The Practical Experience Guide EVE CHENG CPA SENIOR ANALYST BHP BILLITON Contents Practical experience requirement How to identify if your role is relevant Where do you fit? What skills areas do you need to demonstrate? Your mentoring relationship How to record your experience in the logbook The skills guide Personal effectiveness skills Leadership skills Business skills Technical skills 3 4 6 7 8 10 11 12 13 14 15 MICHELLE ROACH CPA 2 Practical experience requirement Did you know? Our studies show that members consistently perform better in their segments when they are enrolled in the practical experience requirement The practical experience requirement of the CPA Program gives you the opportunity to use the knowledge and skills gained in your education and apply them in your workplace. Combining your education with mentored practical experience will give you the opportunity to develop and demonstrate highly sought after technical and soft-skills that will benefit your entire career. Starting your practical experience requirement means that you are one step closer to your goal of becoming a CPA. CPA Australia recommends that you start the practical experience requirement and the professional level segments at the same time, if you are employed in a relevant role. What are the requirements? • complete a minimum of three years of relevant full-time or equivalent part-time work experience • demonstrate competence in 16 personal effectiveness...
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...Internal Control 1843 AU Section 325 Communicating Internal Control Related Matters Identified in an Audit (Supersedes SAS No. 112.) Source: SAS No. 115. Effective for audits of financial statements for periods ending on or after December 15, 2009. Earlier implementation is permitted. Applicability .01 This section establishes standards and provides guidance on communicating matters related to an entity's internal control over financial reporting identified in an audit of financial statements. It is applicable whenever an auditor expresses or disclaims an opinion on financial statements. In particular, this section • • • defines the terms deficiency in internal control, significant deficiency, and material weakness. provides guidance on evaluating the severity of deficiencies in internal control identified in an audit of financial statements. requires the auditor to communicate, in writing, to management and those charged with governance,1 significant deficiencies and material weaknesses identified in an audit. .02 This section is not applicable if the auditor is engaged to examine the design and operating effectiveness of an entity's internal control over financial reporting that is integrated with an audit of the entity's financial statements under AT section 501, An Examination of an Entity's Internal Control Over Financial Reporting That Is Integrated With an Audit of Its Financial Statements. Introduction .03 Internal control is a process—effected by those charged with...
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...Transcript of ZZZZ Best Company, Inc ZZZZ Best Company, Inc Case 1.9 Audit Review VS Full Audit Review • The accountant is not aware of any misstatements or material modifications that need to be made • Limited assurance • Auditor has no opinion on the financial statements, just looks them over Barry Minkow- 16 years old 1982 Carpet cleaning business turned insurance restoration Tom Padgett and Interstate Appraisal Services Ernst & Whinney- elaborate scheme to convince them History 1. Client imposed audit limitations 2. Limitations of audit evidence 3. Importance of auditor communication when one resigns & 8K filing Key Issues Audit- • Auditor obtains a high level of assurance • Auditor can express an opinion about the accuracy and level of assurance • Auditor tests internal controls and tests for misstatements and obtains and understanding of the entities internal control and fraud risk Matt Sepiol Samantha Claysen Limitations of Audit Evidence AU 326- Audit Evidence Auditors Used Confirmation, Documentation, and Analytical Procedures AU 326.08- Information from outside sources is better than from internal sources Confirmations were made by Tom Padgett who was involved in the scheme. Interstate Appraisal Services and Assured Property Management provided the Documentation Was Involved in Fraud Collusion amongst outside Parties Gives Evidence Limitations The client receiving payment doesn't prove the existence of those contracts. No third...
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...practice in Nigeria CHAPTER ONE Introduction 1.1 Background of the study In the recent past centuries, before the inception of Information and Communications Technology (ICT), the accountants of an organization were using a socially acceptable behavioural method of reporting accounting and economic reports, carried out during accounting year ends, the preparation of accounting records, book such as the profit and loss account, the balance sheet, cash book, cash flow statement, income and expenditure accounts. The application of Information and Communication Technology (ICT), on accounting practice in Nigeria has become a subject of fundamental importance and concerns to all business enterprise and indeed a prerequisite for local and international competitiveness. It is obvious that the way accountants plan and take decision on what and how to provide their service in the accounting profession has been affected immensely by Information and Communication Technology (ICT). This has continued to change the manner in which accounting practice and their corporate relationships are organized worldwide and the variety of innovative device available to improve and facilitate the speed and quality service delivery. It is obvious that the biggest impact of Information and Communication Technology (ICT) has been made on accounting; and it is the ability of companies to develop and use computerized system to track and record financial transactions...
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...An HR audit is like an annual health check, says EJ Sarma. It plays a vital role in instilling a sense of confidence in the management and the HR functions of an organisation A healthy HR function in an organisation is as important as the physical and mental well being of a human body. Typically the basic reason why organisations prefer to conduct an HR audit is to get a clear judgement about the overall status of the organisation and also to find out whether certain systems put in place are yielding any results. HR audit also helps companies to figure out any gaps or lapses and the reason for the same. Since every company plans certain systems and targets, an HR audit compares the plans to actual implementation. The concept of HR audit has emerged from the practice of yearly finance and accounting audit, which is mandatory for every company, to be done by external statutory auditors. This audit serves as an examination on a sample basis of practices and systems for identifying problems and ensuring that sound accounting principles are followed. Similarly, an HR audit serves as a means through which an organisation can measure the health of its human resource function. Organisations undertake HR audits for many reasons: 1 To ensure effective utilisation of human resources. 2 To review compliance with tons of laws and regulations. 3 To instill a sense of confidence in the human resource department that it is well-managed and prepared to meet potential challenges and opportunities...
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...practice in Nigeria CHAPTER ONE Introduction 1.1 Background of the study In the recent past centuries, before the inception of Information and Communications Technology (ICT), the accountants of an organization were using a socially acceptable behavioural method of reporting accounting and economic reports, carried out during accounting year ends, the preparation of accounting records, book such as the profit and loss account, the balance sheet, cash book, cash flow statement, income and expenditure accounts. The application of Information and Communication Technology (ICT), on accounting practice in Nigeria has become a subject of fundamental importance and concerns to all business enterprise and indeed a prerequisite for local and international competitiveness. It is obvious that the way accountants plan and take decision on what and how to provide their service in the accounting profession has been affected immensely by Information and Communication Technology (ICT). This has continued to change the manner in which accounting practice and their corporate relationships are organized worldwide and the variety of innovative device available to improve and facilitate the speed and quality service delivery. It is obvious that the biggest impact of Information and Communication Technology (ICT) has been made on accounting; and it is the ability of companies to develop and use computerized system to track and record financial transactions...
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...1. The major difference between review and audit are the following: The review does not contemplate obtaining an understanding of internal control structure. The review does not assess control risk, tests of accounting records and responses to inquiries by obtaining corroborating evidence through inspection, observation or any other audit procedure. It can point out significant matters of the financial statements but does not provide assurance of their accuracy. A review service provides a moderate amount of assurance on the financial statements, and less evidence is necessary to support this level of assurance. Whereas audit provides a high level of assurance. 2. The Limitations of Management assertion of existence: First ZZZ Best auditor George Greenspan performed audit for 12 months ended April 30, 1986. According the case: He confirmed the existence of ZZZ Best major insurance contracts by contacting Tom Padgett. He not only confirmed their existence but also obtained and reviewed copies of all key documents regarding those jobs. However, Greenspan did not inspect any of the insurance restorations. As I understood from the case, If auditor satisfied that these jobs exist by different sources (existence according the paper documents) he is not required to conduct personal on-site inspection. Or if physical observation is not relevant or too costly auditors obtain the next best evidence available. This is the one of limitations of management assertion of existence ...
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...Usefulness of having audit committee. The first one is audit committee can improve the auditor’s independence. Audit committee is the body responsible for overseeing the company’s relations with the external auditor. Therefore, audit committee help in ensuring that there is no conflicts of interest exist that might interfere with the auditor's ability to issue its opinion on the financial statements. Thus, they may help in improving the independence of external auditor. Next, audit committee can improve the objectivity and credibility of financial reporting. This is because, audit committee can periodically meet with the government’s chief executive and financial officers to review, monitor and direct activities. This will help in improving the maintenance of internal controls and preparation of financial reports Furthermore, audit committee also can help to improve the communications among auditors, directors and management. They help in resolving any disagreements regarding financial reporting between management and the auditor. Thus, through this, the quality of audits and accounting functions also can be improved. Besides that, audit committee may deter executive directors from creative accounting and illegal acts such as fraud. It is part of their role in the prevention, deterrence, and detection of fraud. Audit committee also can help in encouraging the government organization to establish an effective ethics and compliance program. In order to ensure that the appropriate...
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...Chapter 13 Auditing the Inventory Management Process Answer Key True / False Questions 1. The "cradle-to-grave" cycle for inventory begins when goods are purchased and stored and ends when the finished goods are shipped to customers. TRUE AACSB: Analytic AICPA BB: Industry AICPA FN: Decision Making Blooms: Remember Difficulty: 1 Easy Learning Objective: 13-01 Develop an understanding of the inventory management process. Topic: Overview of Inventory Management Process 2. A receiving report records the shipment of goods to customers. FALSE AACSB: Analytic AICPA BB: Industry AICPA FN: Decision Making Blooms: Remember Difficulty: 1 Easy Learning Objective: 13-02 Be able to identify and describe the types of documents and records used in the inventory management process. Topic: Types of Documents and Records 3. Sale of finished goods is a part of the inventory management process. FALSE AACSB: Analytic AICPA BB: Industry AICPA FN: Decision Making Blooms: Remember Difficulty: 1 Easy Learning Objective: 13-03 Understand the functions in the inventory management process. Topic: The Major Functions 4. Once the controls in the inventory system have been tested, the auditor sets the level of control risk. TRUE AACSB: Analytic AICPA BB: Industry AICPA FN: Risk Analysis Blooms: Remember Difficulty: 1 Easy Learning Objective: 13-06 Know how to assess control risk for the inventory system. Topic: Control Risk...
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...internal audits carried out are carried out in compliance with Internal company standards and procedrues has been assessed by the National Safety Authority (Railway Safety Commission) as part of the submission for safety certification under Commission Regulation 1158/2010. Our internal audit processes meets the requirements of section S of the Common Safety Method Directive (CSM) by demonstrating that there is an auditing system that is • Independent • Impartial and transparent • Planned and revised dependant on results of previous audits • Procedures are in place for competent auditors • Management of recommendations and communications of findings to persons who have accountability to implement findings. This requirement is not dissimilar to the obligations imposed on UK railway undertakings under Schedule 1 (k) of the Railways and Other Guided Transport Systems (Safety) Regulations 2006 (ROGS). However from July 2013 the CSM for monitoring will require more defined processed for monitoring to enable effective management of safety in the railway The risk is that without audit structures which define the role, purpose and processes of auditing, the benefits of auditing and the potential outcomes of not carrying out diligent audits is not understood by the management team. This paper will attempt to clarify the role, purpose and processes involved in auditing its value to the organisation if carried out to appropriate and transparent standards. The Role of the Audit The...
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