Management, Leadership, and Controlling In Wal-Mart
This article is about Wal-Mart and how its controls their management and accounting issues. Wal-Mart is the world’s largest retailer, and with that the company has a lot of areas that need controlled. Wal-Mart has been battling issues with their financial division since the Mexican bribery scandal in 2012. The scandal was found that eight of Wal-Mart’s CEO’s of the international division were paying off politicians to speed up the process of building permits for their stores. Controlling is a function of management that really brings the whole company together. Controlling is defined as any mechanical (or others) system used to keep one or more variable parameters constant, or within specified bounds. The process of controlling is very important aspect of Wal-Mart’s goal of maintaining ethical accounting practices. The most important part of the control mechanism is Wal-Mart accounting and the way it’s practiced every day at the store level and also at the corporate level. It is set forth that documents in accordance with all applicable laws, regulations, or court orders and in compliance with all internal retention policies and directives, as well as all complaints received regarding accounting, internal audits controls or auditing matters shall be controlled. Just as important, all employees, officers, directors, etc. are instructed not to withhold or suppress any information relevant to financial accounting matters. Wal-Mart’s main objective is safeguarding against internal control. Wal-Mart tends to be alert to many attempts to circumvent the internal control. Any person or team that is trying to go around the policies and procedures that are meant to protect assets, business information, and information is reported to the internal control auditing team. Wal-Mart strongly believes in protocol so; the