...Graduate School of Business, DePaul University Abstract Fraudulent financial reporting has always been a crucial issue in business operation. Sometimes companies could report fraudulent financial statements to conceal true information and benefit from questionable transactions. Investors and shareholders would not be able to obtain useful information to make business decisions if financial information failed to reflect business operation and the company’s financial status. Broadly, the market would hurt due to the negative impact on the market efficiency. As a result, COSO, the Committee of Sponsoring Organizations of the Treadway Commission, was formed in 1985. It has published several comprehensive frameworks to help organizations to improve business operation and governance and to avoid fraud. The aim of this report was to study the development of COSO, including its history and main frameworks and guidance regarding internal control, enterprise risk management and fraud deterrence. The report interpreted the three areas under COSO framework with their key compositions and most recent updates. After the detailed interpretation, conclusion and recommendations were given. Keywords: Fraudulent Financial Reporting, COSO, Internal Control, ERM, Fraud Introduction and Background Financial information is a significant and unique composition of the world of business. Analysis on financial information can always help users to make business decisions. However...
Words: 3530 - Pages: 15
...Unit five: Principles of supporting business events Assessment You should use this file to complete your Assessment. • The first thing you need to do is save a copy of this document, either onto your computer or a disk • Then work through your Assessment, remembering to save your work regularly • When you’ve finished, print out a copy to keep for reference • Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number. Please note that this Assessment document has 3 pages and is made up of 3 Sections. Name: Section 1 – Understand how to support the organisation of a business event 1. When organising a business event, describe the range of support activities that may be required. When organising an event there are so many support activities that are required and these will vary depending on the size of the event. Firstly the venue needs to be arranged, this very often has to be done with quite a big advance notice as places can be booked far in advance depending on popularity. You need to make sure that it is big enough to hold your event but not too big where it will look like nobody has attended, also sticking within a budget is important as venues can be very expensive. Equipment needs to be arranged, are computers needed? Will you be talking to a large crowd and will need microphones? Or on an even larger...
Words: 1720 - Pages: 7
...Published in association with the Best Management Practice Partnership The IT Service Management Forum An Introductory Overview of ITIL® V3 A high-level overview of the IT INFRASTRUCTURE LIBRARY The IT Infrastructure Library An Introductory Overview of ITIL® V3 Version 1.0 Written by: Alison Cartlidge Ashley Hanna Colin Rudd Ivor Macfarlane John Windebank Stuart Rance Alison Cartlidge Mark Lillycrop Xansa - Steria HP itEMS Ltd IBM Sun HP Xansa - Steria itSMF UK Edited by: Published by: The UK Chapter of the itSMF With thanks to all those who took part in the review process. © Copyright itSMF Ltd, 2007 This version first published 2007 Based on other copyright material with the permission of the copyright owners. ITIL® is a Registered Trade Mark, and a Registered Community Trade Mark, of the Office of Government Commerce (OGC) and is registered in the US Patent and Trade Mark Office. PRINCE® is a Registered Trade Mark, and a Registered Community Trade Mark, of the Office of Government Commerce (OGC) and is registered in the US Patent and Trade Mark Office. COBIT® is a Registered Trade Mark of ISACA and the ITGA. CMM® is registered in the USA Patent and Trademark Office. PMBoK® is a Registered Trade Mark of the Project Management Institute. M_o_R ® is a Registered Trade Mark and a Registered Community Trade Mark of the Office of Government Commerce. © Crown copyright material reproduced with the kind permission of OGC on behalf of the Controller of...
Words: 12782 - Pages: 52
...form Verbal form Audio-visual form A report is a form of communication that will do one or more of the following: describes analyses summarises criticises or praises makes predictions about … a subject and is based on an analysis of current or past events or identifiable phenomena. If you are studying on an undergraduate or postgraduate course you will be expected to write reports and to present findings in both written and verbal and/or audio/visual forms. You will, for example, write reports: • • • • for module assignments, e.g. case study reports presenting the results of an individual research project summarising the result of a group project and presentation reflecting on a work experience or other placement you were involved in Effective Learning Service 1 Bradford University School of Management Report Writing What’s the difference between a report and an essay? There are two main differences: aim and presentation. Aim Essays give you more opportunity to expand on possibilities, ideas or concepts. Reports deal with describing and/or analysing actual past events. Reports can be written that make predictions or recommendations for the future, but these are usually the result of an analysis of past events or of current or past social, cultural or economic phenomena. The English statesman, Sir Thomas More, wrote an essay titled Utopia, which visualised an ideal state or ‘perfect world’. He couldn’t have written a report on the same topic! Presentation...
Words: 7456 - Pages: 30
...Proceedings of the 41st Hawaii International Conference on System Sciences - 2008 A Study of the Causal Relationship between IT Governance Inhibitors and Its Success in Korea Enterprises Chi-Hoon Lee, Jung-Hoon Lee, Jong-Sung Park, Kap-Young Jeong Graduate School of Information, Yonsei University, Seoul, Korea chihoon@yonsei.ac.kr, jhoonlee@yonsei.ac.kr, bizajou@yonsei.ac.kr, jeongky@yonsei.ac.kr Abstract In recent years, the emergence of the term IT Governance (ITG) has pointed to the increasing importance for business of effecting an alignment between its strategic direction and IT units. Many leading organizations have turned to ITG to pursue gains in efficiency, accountability, and regulatory and other forms of compliance, without, however, being able to implement coherent IT schemes on account of a number of challenging issues. Despite the growing interest of academics and practitioners in this area (as attested in recent publications), few studies have characterized the practical inhibitors frustrating the implementation of effective ITG. This paper, therefore, aims to examine empirically how inhibiting features associated with ITG affect the success of IT activities. Through a literature review, we identify 5 factors that work to restrain ITG implementation. Further, this work presents survey data gathered from 96 leading companies in Korea reporting the status of ITG practices according to a specific instrument of its own design. 1....
Words: 5949 - Pages: 24
...Business and program manager with an accomplished career, demonstrating expertise in pursuing new business opportunities and effective team building. Strong management and leadership skills, experienced working with cross-functional teams in complex environments. Creative and innovative problem solving skills and clear decision-making abilities in pressured situations. Accomplished in the successful presentation and negotiation of complex, high value, concepts at senior level. Proven track record in strategy, business planning, budgeting and performance management. Over thirty years in the Information Technology and Communications industry with extensive international business experience. CORE COMPETENCies Leadership: One of thirteen...
Words: 1087 - Pages: 5
...Levels of Strategies-Vehicles to Success BUSI600 Liberty University Abstract A corporation’s success is as intrinsically linked to the products or services it takes to market as to the strategies utilized in the normal course of its business. It is not enough to have a great product or to have the ability of providing an unparalleled service in order to achieve success. A strategy or group of interrelated strategies to develop, sustain and deliver these products and services must be constantly developed and implemented. But: * How many levels of strategy are needed? * Who implements them? * When should they be implemented? * Where would they be most impactful or relevant? * How are they evaluated and revised? * When should they be abandoned for another? It could be argued that the simpler the product, the simpler the business strategies needed in order to achieve success. This assumption and its corollary, that advanced products need complex business strategies, can be proven flawed today as it has been observed in the past. Whether a corporation is providing a simple product or complex service, the strategies they implement should constantly evolve, in response or in anticipation to ever shifting market demand conditions, not just the product’s intrinsic complexity. The right strategy or group of strategies is a corporation’s best vehicle to success. Vehicles to Success Since most technology [corporations’] revenues come primarily from...
Words: 3310 - Pages: 14
...SUSTAINING OUR CAPACITY Addressing Emerging Constraints Sustainability Report 2013/14 Contents About this Report Message from the Chairman Message from the CEO HKIA: Sustainability at a Glance About Airport Authority Hong Kong Our Approach to Sustainability Stakeholder Engagement Sustaining HKIA’s Economic Contribution Delivering Operational and Service Excellence Managing our Environmental Footprint Supporting our People and Community Looking Forward Performance Indicators Verification and GRI Check Appendices Glossary Website Index 1 2 4 6 8 10 16 20 24 36 46 54 56 63 65 68 69 AAHK received a number of awards and recognition during the reporting period. Details are set out in the ‘Appendices’ section. TTG’s Travel Hall of Fame Airport Carbon Accreditation Scheme 2013-2014 28th Asian Freight and Supply Chain Awards Hong Kong Awards for Environmental Excellence Green Office Awards Labelling Scheme Sustainability Report 2013/14 UNMDG ‘Better World Company’ 2012-14 Social Capital Builders Award Caring Organisation 5 Years Plus Web Accessibility Recognition Scheme 2014 About this Report 1 ABOUT THIS REPORT Report Profile This is Airport Authority Hong Kong (AAHK)’s second annual sustainability report, covering fiscal 2013/14, ended 31 March 2014. As a statutory organisation, AAHK recognises its responsibility to be transparent about its performance and operations. This report aims to provide a reasonable and balanced view of AAHK’s...
Words: 24702 - Pages: 99
...as a hierarchical, multilevel system comprising aggregation hierarchies, architecture layers and views, (2) discussing enterprise architecture frameworks with regard to essential elements, (3) proposing interfacing requirements of enterprise architecture with other architecture models and (4) matching these findings with current enterprise architecture practice in several large companies. Keywords enterprise architecture, architectural components, architectural layers, architectural views, interfaces ENTERPRISE ARCHITECTURE: DEFINITION According to ANSI/IEEE Std 1471-2000, architecture is defined as the “ fundamental organization of a system, embodied in its components, their relationships to each other and the environment, and the principles governing its design and evolution”(IEEE 2000). Enterprise architecture (EA) therefore is understood as (1) the fundamental organization of a government agency or a corporation, either as a whole, or together with partners, suppliers and / or customers (“ extended enterprise” or in part (e.g. a division,...
Words: 5469 - Pages: 22
...Self-Reliance Another word for self-reliance is responsibility, especially for yourself. Practicing self-reliance means that you learn to do those things so you don't have to depend on other people so much. It also means that when other people need help, you give it to them, but you also do what you can to teach them to be able to do for themselves the next time. “I want to employ as many people as I can, and improve their quality of life” Sarath quotes his ambition. Yes, he means what he says, he practices self reliance. You can give free food, clothes, or whatever you can to the needy but that will only make them depend on you. Instead, Sarath’s way of helping the poor makes them self-reliant too. Yuva: helping others, Swami Vivekananda's principle Sarath Babu Elumalai, The Food King The 31-year-old founder and chief executive of the Food King restaurant grew up with four siblings in Madippakkam, on the outskirts of Chennai. Once upon a time, this guy was selling Idlis in the streets with his mother. His mother Deeparamani, a single parent, sold Idlis in the mornings, worked for the mid-day meal at the school during daytime and taught at the adult education programme of the Indian government, thus doing three different jobs to bring them up and educate. Struggling to study under street lamps, Sarath determined not to give up academics at the time he was in class X at Kings Matriculation Higher Secondary School, Chennai. To pay his special fees in XII, he did book binding during...
Words: 1658 - Pages: 7
...Associated with MIS Assessing Vulnerability to MIS Risk Achieving Sound MIS MIS Reviews Examination Objectives Examination Procedures Internal Control Questionnaire Purpose MIS Policies or Practices MIS Development User Training and Instructions Communication Audit Conclusion Verification Procedures Table of Contents 1 1 3 4 5 6 9 10 17 17 17 18 19 20 20 21 22 Comptroller's Handbook i Management Information Systems Management Information Systems Background Introduction A management information system (MIS) is a system or process that provides the information necessary to manage an organization effectively. MIS and the information it generates are generally considered essential components of prudent and reasonable business decisions. The importance of maintaining a consistent approach to the development, use, and review of MIS systems within the institution must be an ongoing concern of both bank management and OCC examiners. MIS should have a clearly defined framework of guidelines, policies or practices, standards, and procedures for the organization. These should be followed throughout the institution in the development, maintenance, and use of all MIS. MIS is viewed and used at many levels by management. It should be supportive of the institution's longer term strategic goals and objectives. To the other extreme it is also those everyday financial accounting systems that are used to ensure basic control is maintained over financial recordkeeping activities...
Words: 5493 - Pages: 22
...were applied. For example, if concrete data, numerical information is retrieved in meaningful amounts a quantitative analysis will be conducted. Conceivably, an interviewee may be aware of KM measures (cost savings, increased efficiencies) that impact the study that the researcher is currently unaware of. An example might be that X BDE from Y DIV saved a certain amount of money as a result of a KM initiative. A more appropriate measure might be tied to a training organization, such as a basic training unit, reporting increased transfer of training as a result of a KM initiative. Again, it is unlikely that quantitative data will be gleaned from the semi-structured interviews. An initial research assumption, which the researcher is now certain is factual, states that recorded, measurable, data associated with a repeatable KM initiative does not exist within Army tactical organizations. Second, as determined by Dr. Ward, quantitative analysis of KM processes in a much broader business and academic study is still elusive.1 Thus, attempting to force a solely quantitative method would be inappropriate. Return on...
Words: 2381 - Pages: 10
...legal, human resource, etc) that report to corporation’s centralized Finance department. Some of Finance’s many duties are to book journal entries that are often generic to all departments and review all the submitted P&L from each department. Once the reviews and analyses are completed, the Centralized Finance team consolidates all of the financial statements for the organization as one. My department (OBGYN, Obstetrics & Gynecology) is made up of both full time and part time employees. The department has about eighty physicians and an additional three hundred employees supporting the work of the physicians. The other supporting staff members include practice managers& supervisors, nurses, technicians, patient services representatives (PSR) and the finance unit in my group. Our department consists of seventeen practice locations that are in both Pennsylvania and New Jersey. My finance unit is responsible for booking journal entries during the course of each month and then preparing and analyzing the financial statements during the month end close. In addition, we are...
Words: 2236 - Pages: 9
...CHAPTER 1 AUDITING AND THE PUBLIC ACCOUNTING PROFESSION – INTEGRITY OF FINANCIAL REPORTING |LEARNING CHECK | 1. SEVERAL COMMON ATTRIBUTES OF ACTIVITIES DEFINED AS AUDITING ARE (A) SYSTEMATIC PROCESS, (B) OBJECTIVELY OBTAINING AND EVALUATING EVIDENCE, (C) ASSERTIONS ABOUT ECONOMIC ACTIONS AND EVENTS, (D) DEGREE OF CORRESPONDENCE, (E) ESTABLISHED CRITERIA, (F) COMMUNICATING THE RESULTS, AND (G) INTERESTED USERS. 2. A financial statement audit involves obtaining and evaluating evidence about an entity's financial statements for the purpose of expressing an opinion on whether the statements are presented fairly in conformity with established criteria--usually GAAP. Thus, the nature of the auditor's report is an opinion on the fairness of the financial statement presentation. A compliance audit involves obtaining and evaluating evidence to determine whether certain financial or operating activities of an entity conform to specified conditions, rules, or regulations. A report on a compliance audit takes the form of a summary of findings or assurance regarding degree of compliance. An operational audit involves obtaining and evaluating evidence about the efficiency and effectiveness of an entity's operating activities in relation to specified objectives. Reports on such audits include an assessment of efficiency and effectiveness and recommendations for improvements. 3. Independent auditors are individual practitioners or members of public...
Words: 4500 - Pages: 18
...Management Information Systems Chapter 2 COMPONENTS OF A BUSINESS * A business is a formal organization whose aim is to produce products or provide services for a profit – that is, to sell products at a price greater than the costs of production. * ORGANIZING A BUSINESS: BASIC BUSINESS FUNCTIONS * The decision of what to produce is called a strategic choice because it determines your likely customers, the kind of employees you will need, the production methods and facilities needed, the marketing themes, and many other choices. * The five basic entities in a business with which it must deal are: suppliers, customers, employees, invoices/payments, and, of course, products and services. * BUSINESS PROCESSES * The actual steps and tasks that describe how work is organized in a business are called business processes. * A logically related set of activities that define how specific business tasks are performed. * Also refer to the unique ways in which work, information, and knowledge are coordinated in a specific organization. Manufacturing & Production | * Assembling the product * Checking for quality * Producing bills of materials | Sales & Marketing | * Identifying customers * Making customers aware of the product * Selling the product | Finance & Accounting | * Paying creditors * Creating financial statements * Managing...
Words: 3642 - Pages: 15
