Audit in isk Management
Agelova, B., Koleva, B. (2015). The role of internal audit in risk management system of the companies. Economic Development, 3: 1-10.

This study shows that the purpose of the internal audit is increasingly oriented towards mitigating risk so that the firm in question can reduce uncertainty and exercise adequate, effective and appropriate decision making processes. The focus of the study is, therefore, on the internal audit aspect of a company's risk management. The purpose of the study is situated in evaluation research -- here, that which is evaluated is the "contribution of the internal audit in the management of risks in the Macedonian enterprises" (Angelova, Koleva, 2015, p. 1).

The sample used for this included the managers of 30 Macedonian enterprises along with 48 internal auditors in the epublic of Macedonia. The survey method was used for gathering data and the finding of the study was that internal…...

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References

Agelova, B., Koleva, B. (2015). The role of internal audit in risk management system of the companies. Economic Development, 3: 1-10.

This implies a comparison of the results of the internal and external audits. Additionally, aside results and documents consulted, it is also necessary to assess the various variables used in the evaluations.
It is for instance possible for the company to alter the findings by focusing on more favorable variables. As a specific example, a financial audit could reveal increased organizational abilities to honor company debts, but this conclusion could solely be founded on the assessment of the company's short-term liquidity, in a context in which the assessment of the long-term liquidity would have revealed financial instabilities. In this order of ideas, the risks of altered results would decrease and the relevance of the findings would increase to better allow the auditor to assess the quality of the internal control systems.

At this stage, the auditors would make use of several technological applications through which to increase the efficiency of the…...

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References:

2003, Sarbanes-Oxley Compliance. A Checklist for Evaluating Internal Controls -- General Ledger and Financial Reporting Processes, AXS-One,   last accessed on June 25, 2010http://www.axsone.com/pdf/GL_checklist_short%20version_121703.pdf 

Internal Control Checklist, IDAHO Management Control Systems,   last accessed on June 25, 2010http://www.sco.idaho.gov/web/DSADoc.nsf/6065F400C610BDB5872569BC0074D4EE/$FILE/Cklist60.rtf 

Internal Control; Self-Assessment Checklist, the University of Utah,   last accessed on June 25, 2010http://web.utah.edu/Internal_Audit/ppts/Internal%20Control%20Self%20Assessment%20Mar-06.doc 

Phases of a Control Evaluation PowerPoint

Internal Fraud Detection
Fraud can be detected by deliberate effort through internal control efforts or by coincidence or chance. When companies do not practice strong internal control, it leaves the door open for employees to misappropriate assets without being detected, except by chance. y the time fraud is detected by chance, it could have cost a company millions of dollars in misappropriated assets.

The first coincidence discovered by the magazine company was in the process of a new auditor in an effort to get to know his new company and their accounting codes taking invoices to a vice president responsible for approving payment on them. The very top invoice was a forged signature, and upon evaluation, more invoices were discovered to have contained forged signatures, which is what set up the investigation. According to (Global Economic Crime Survey), 13% of internal fraud is detected by accident, 27% reported fraud in the entertainment…...

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Bibliography

Global Economic Crime Survey. Nov 2009.   18 Mar 2013.http://www.pwc.com/en_GX/gx/economic-crime-survey-2009.pdf .

Internal Controls and Fraud Proofing. 2013. article from   18 Mar 2013.http://www.aicpa.org/InterestAreas/ForensicAndValuation/...rnal%20Controls%20and%20Fraudproofing.aspx .

32, and Pepsi's ratio is .29. These are close, but suggest that Pepsi is actually able to generate more revenue for every dollar of property and equipment it owns.
This makes sense given the operational differences at these companies; as noted above, Coca Cola does not actually own or operate all of the production elements for its products, thus it makes sense that is has much lower property values than its rival Pepsi, which is more fully integrated (Coca Cola, 2012; Pepsi, 2012). This also suggests, however, that Pepsi's revenue generation and overall value is more tied to its physical properties, plants, and equipment than is Coca Cola, meaning expansion could ne more costly for the company (Palepu, 2007). In this way, productivity might not transfer into long-term efficiency and profitability, which is something both investors and competitors should consider.

Marketing Productivity

If determining human resource and plant/equipment productivity was difficult, determining marketing…...

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References

Coca Cola. (2012). 2011 Annual Report. Accessed 1 April 2012.  http://www.thecoca-colacompany.com/investors/pdfs/form_10K_2011.pdf 

Fitz-enz, J. & Davison, B. (2002). How to Measure Human Resource Management. New York: McGraw Hill.

Palepu, K., Healy, P., Bernard, V. & Peek, E. (2007). Business Analysis and Valuation. Mason, OH: Cengage.

Pepsi. (2012). 2011 Annual Report. Accessed 1 April 2012.  http://www.pepsico.com/annual11/downloads/PEP_AR11_2011_Annual_Report.pdf

"
The determination for marketable security with respect to disproportionate distribution is accomplished by reducing the amount of marketable securities that is treated as money using the following steps:

1. The excess of the partner's share of net gain that would be recognized if all securities of the type distributed held by the partnership immediately before the transaction were sold at fair market value over

2. The partner's share of gain that would be taken into account if the securities held by the partnership immediately after the transaction were sold.

While the term "marketable securities" includes interests in actively traded precious metals and other financial instruments that are set forth in the applicable IRC code and regulations, there are some exceptions to this provision, though, and it does not apply in three specific situations as noted below:

1. Contributed by partner. If the security itself was contributed to the partnership by the distributee-partner, the provision…...

A major objective of the custodial Financial reporting system is to be continuously and accurately responsive to regular and ad hoc requests for custodial financial reports" (Website of the Internal evenue Service, 2008).
The new information system has not been entirely implemented in the meaning that it still in the stages of control and testing. Once its implementation has been completed, the FMIS is expected to perform the following tasks:

Support the financial audit conducted by the General Accountability Office

Prepare the financial statements of the Internal evenue Service

Prepare reports for trending on operational impact

Feed the BPMS (the Business Performance Management System), the CCW (Compliance Data Warehouse) and the CAP (Custodial Accounting Project)

etrieve the information necessary for the Federal Payment Levy Program (FPLP), and finally

Analyze and report on modules with credit balances belonging to frozen credit processes (Website of the Internal evenue Service, 2008)

The GAO is a powerful organization, with a high…...

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References

Johnson, S., 2008, GAO to IRS: Get Control of Yourself, CFO,   accessed on December 10, 2008http://www.cfo.com/article.cfm/12592210?f=searchlast 

Website of the Internal Revenue Service, accessed on December 10, 2008http://www.irs.govlast

Website of the U.S. Government Accountability Office,   accessed on December 10, 2008http://www.gao.gov/last 

The fifth principle of cash disbursement is that of independent internal verification. This occurs at Guard Dog because the reconciliation is conducted by the assistant chief accountant, not the treasury. There are other controls as well that are consistent with the principles of internal control of cash. The invoices are stamped "PAID" when the check has been issued, for example. Also, in each key department there are two individuals, which allows each individual to take vacations. The checks are compared to the invoices before they are issued. By doing all of these things, Guard Dog is following the principles of internal control of cash disbursements well.
4-2A. a) There are several weaknesses in the internal control. The head usher counts the money unsupervised; financial management and audit is conducted by the same group; regular audits are not conducted; only one employee keeps records; the financial secretary conducts reconciliation and audits;…...

S. through even 2009. The exponential growth of Indian outsourcing companies who have expertise in Business Process Management (BPM) have correspondingly seen an increase in their business, as many smaller American publicly-held companies do not have the people or the expertise to get their processes, systems, it plans and accounting and reporting functions in compliance to the SOX standard in any meaningful period of time (adtke, et.al.) as a result many accounting professionals also must manage outsourcing contracts with companies who specialize in BPM and SOX process-redefinition. Finally there is also more concentration on oversight at the corporate level, with companies including Boeing having a Chief Compliance Officer who reports directly to the CEO to ensure GC Initiatives gain the necessary resources to be effective. Accounting and auditing will continue to be significantly influenced by SOX for the foreseeable future as the need for compliance grows.
Conclusion

The accounting and auditing professions…...

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References

Ronald Jelinek, Kate Jelinek. "Auditors gone wild: The "other" problem in public accounting " Business Horizons 51.3 (2008): 223. ABI/INFORM Global. ProQuest. 14 Mar. 2009

Jeffrey E. Michelman, Bobby E. Waldrup. "Improving Internal Control Over Financial Reporting" the CPA Journal 78.4 (2008): 30-34. ABI/INFORM Global. ProQuest. 13 Mar. 2009

Robin R. Radtke.. "Role Morality in the Accounting Profession - How do we Compare to Physicians and Attorneys? " Journal of Business Ethics 79.3 (2008): 279-297. ABI/INFORM Global. ProQuest. 13 Mar. 2009

Sandra Waller Shelton, O. Ray Whittington. "The influence of the auditor's report on investors' evaluations after the Sarbanes-Oxley Act. " Managerial Auditing Journal 23.2 (2008): 142-160. ABI/INFORM Global. ProQuest 13 Mar. 2009

Managing the Effectiveness of the Audit Process
Mission and Objectives of the International Audit Department

Stakeholders

The IAD stakeholder power-interest grid

The Audit Process

Objectives, Scope and Approach of the Research

Purpose and Mandate

Resourcing

Competency Development

Sustaining People Excellence

Tools and Technology

Knowledge Management

Operations

Quality

Governance

People

Infrastructure and Operations

Japan Tobacco International (JTI) is an international tobacco business that is operated by Japan Tobacco Inc. Japan Tobacco Inc. is the third largest player in the international tobacco industry with a market capitalization of 32 billion USD and a market share of 11%. JTI was established in the year 1999 when Japan Tobacco Inc. purchased the operations of United States multinational R.J. Reynolds, for 8 billion USD.

The Internal Audit Department (IAD) of the organization is accountable to the board of directors. The department is headed by the Global Internal Audit Vice President. He took his position in the year 2009.

The basic object of this research is to analyze the operational ability and effectiveness of the…...

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Works cited

Anupindi, Ravi. 2006. Managing Business Process Flows. Upper Saddle River, NJ: Pearson/Prentice Hall.

Leseure, Michel. 2010. Key Concepts in Operations Management. Los Angeles: SAGE.

Mahadevan, B. 2009. Operations Management. New Delhi: Published by Dorling Kindersley (India), licensees of Pearson Education in South Asia.

Slack, Nigel. 2009. Operations and Process Management. Harlow, England: Prentice Hall/Financial Times.

hythm on the Vine is a concert series that is run on a charity basis by the Shriner's Hospitals for Children. hythm is a concert series and the size of the events is growing rapidly, so there is a need for the Shriners to implement proper procedures for financial management and cash handling at these events. Members of the public pay for their tickets with credit cards or online, but there are some ticket purchases at the events, and in some instances there are cash purchases of food and beverages available. There are several different ticketing tiers, with the highest level of sponsorship at $5,000 and lower levels down to $35 tickets at the picnic area. The picnic area generates cash sales of food and beverages in particular, as many picnic guests rely on ad hoc food purchases. In addition to ticket sales, there are silent auctions as well.
There are…...

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References

Allen, J. (2014). Audit preparation best practices. Maner Costarian. Retrieved November 23, 2015 from  http://www.manercpa.com/images/uploads/AutitPreparation-2014NonprofitUpdateMaterials.pdf 

Cantoria, C. (2011). What internal controls should be in place for handling cash? BrightHub.com. Retrieved November 23, 2015 from  http://www.brighthub.com/office/finance/articles/119173.aspx 

Gustafson, F. (2015). Best practices for handling cash. eHow. Retrieved November 23, 2015 from http://www.ehow.com/info_10052406_practices-handling-cash.html

Marketing Audit
A market research plan is the systematic study that deals with the gathering and analysis of the concerned data to assess the role of a certain company in the market and persuade the customers to by their products. Marketing research assist the companies to design better strategies for future with respect to customer behavior (Pickett, 2010).

Marketing audit: It is a systematic and comprehensive evaluation of a company's activities and the results achieved due to its capabilities .In order to carry out marketing research one must understand the role of marketing audit in research.

PUPOSE OF THE AUDIT (Wal-Mart)

Marketing audit is necessary because the Wal-Mart has to compare its performance with the constantly changing market environment. There are certain micro and macro environmental factors that affect the business and marketing operations of the retail business of Wal-Mart largely. A detailed description of them is as under:

Microenvironment: Micro environmental factors are the…...

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References

Cangemi, M.P., & Singleton, T.W. (2003). Managing the Audit Function. New York: John Wiley and Sons Ltd.

D'Souza, S. (2009). The Brain Audit. Chicago: Psychotactics.

Foxall, G.R. (1981). Strategic Marketing Management. London: Croom Helm.

Hayes, R.S., Dassen, R., Schilder, A., & Wallage, P. (2005). Principles Of Auditing. Harlow, U.K.: Pearson Education.

Accounting and Audit Enforcement 1. The Sarbanes-Oxley Act applies to publicly-traded companies. Thus, it does not apply to non-profit entities. Nor does it apply to for-profit entities that are not publicly-traded. This is because SOX was passed specifically to address instances of accounting fraud in publicly traded companies that were undermining consumer trust in the capital markets (101.com, 2018). A publicly traded companies has a variety of different obligations under SOX that will help to reduce the opportunities and incentives for accounting fraud. Both opportunity and incentive are components of the fraud triangle – one needs to have a perceived need to commit the fraud and the circumstances with which to do so (ACFE, 2018).
Non-profit organizations have no obligations under SOX. However, there is a school of thought that holds that non-profit entities can benefit from some of the recommendations and mandates that SOX contains. Fritz (2016) writes that "non-profits are…...

US General Accounting Office & National State Auditors Association. "Management Planning Guide for Information Systems Security Auditing." Issued 10 December 2011. Retrieved from http://www.gao.gov/special.pubs/managementpln.pdf
his source is a useful reference that can help determine the history and background of I security and federal government regulation. his report is the first of its kind and can help provide deep background information on the topic at hand.

Spremic, M., Ivanov, M., Jackovic, B. (2012). I Governance and information system auditing practice in credit institutions in the Republic of Croatia. International Journal of Applied Mathematics and Informatics, 2(6), 2012: 101,109. Retrieved from http://naun.org/multimedia/UPress/ami/16-201.pdf

his source provides a study to base the effectiveness of I governance. Despite a question of relevance due to the geographical location of the study, the information still holds value because of the questions the article essentially asked. he study focused on financial institutions performance and actions and their reliance on I…...

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This source examines auditing practices from a different type of academic source. This article argued that internal audit activity must be staffed with competent members dedicated to achieving goals. The article claimed that the internal audit activity must assess whether the information technology governance of the organization supports the strategies and objectives.

Melville, N. (2010). Information Systems Innovation for Environmental Sustainability. MIS Quarterly 34(1), March 2010: 1-21. Retrieved from  http://www.misq.org/downloadable/download/linkSample/link_id/838/In 

This source makes a plea that information systems integration and innovation is essential to the life of any and every organization. The article introduced the Belief action outcome (BAO) framework as an acceptable means to introduce the information technology systems into the larger environment.

Network Audit Case Study
This study focuses on a comprehensive list of top ten tips of network and business continuity audit. These tips might lead businesses to survive and thrive in their audits without the need to overhaul their entire infrastructure.

Top ten network and business continuity-auditing tips

Segmentation of tasks distinctively: It depends on the principle of drive and conquers. It involves brainstorming about the organization's security tasks in terms of pieces and separating them into logically and physically segments. For instance, security tasks depend on ensuring people are kept on the outside by using both physical and firewall security (Bergmann & Pamplin, 2013). However, other components are safely kept on the inside using antivirus. Security does not solely imply that people should be kept from the outside. Obviously, companies have lost information from within the business. In this case, each piece must be documented and prioritized.

Documenting all things on the network:…...

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References

Bergmann, T.S., & Pamplin, B. (2013). CISA - Certified Information Systems Auditor: Study guide. Indianapolis, Ind: Wiley Pub.

Gregory, P.H. (2010). CISA certified information systems auditor all-in-one exam guide. New York: McGraw-Hill.

Website:  http://www.dallascityhall.com/pdf/Auditor/LanWan.pdf

Internal evenue Service's Use of Circular 230 to egulate Tax Preparers
An oft repeated maxim in American history states sardonically that "in this world nothing can be said to be certain, except for death and taxes" (Franklin, 1840), and under the modern statutes of federal tax code that observation has never been more prescient. With taxes imposed by local, state and federal governments throughout the entirety of our natural lives, Americans living in 2012 may be facing the most extensive excises ever levied by one nation on its citizenry. Considering the dreaded annual income tax, the sales taxes added to the cost of consumer goods, and property taxes attached to home valuations, the average person is compelled to contribute thousands of dollars annually to support the revenue shortages of a mismanaged federal government. Even the choice to gift a sum of money to your child, spouse or lifelong friend, perhaps…...

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References

Franklin, B. (1840). Letter to m. le roy on the affairs of france. In J. Sparks (Ed.), The works of Benjamin Franklin: containing several political and historical tracts not included in any

former edition, and many letters, official and private, not hitherto published; with notes and a life of the author (Vol. 10th). Retrieved from  http://books.google.com/books?id=weTtwiiGUYQC&printsec=frontcover&source=gbs_ 

ge_summary_r&cad=0

Fraud in income tax return preparation. Hearing before the Subcommittee on Oversight of the Committee on Ways and Means, 109th Cong. 1 (2005).

The Anatomy of Fraud in Local Government: A Deeper Dive into the Anatomy of Corruption

Introduction:
Fraud in local government, a persistent and insidious problem, erodes trust and undermines the integrity of public institutions. This essay delves into the anatomy of fraud in this critical setting, exploring its multifaceted nature and proposing novel approaches to combat it.

1. The Anatomy of Fraud:

Types of Fraud:
Procurement fraud: Inflated bids, kickbacks, collusion
Financial statement fraud: Misreporting or concealing financial information
Payroll fraud: Unauthorized payments to fictitious or ineligible individuals
Motivations for Fraud:
Greed and personal enrichment
Pressure to meet financial targets
Lack of accountability....

Enhancing Compliance and Understanding of Organizational Rules and Regulations

Organizations thrive on a foundation of clearly defined rules and regulations that guide employee conduct and ensure operational efficiency. To maintain a cohesive and compliant work environment, it is crucial to implement robust measures that effectively enforce these rules and regulations while fostering understanding among all members. Here's a comprehensive guide to help organizations achieve this objective:

1. Clear and Accessible Communication:

The first step towards effective enforcement is ensuring that every member has a clear understanding of the rules and regulations. Organizations should distribute them in written and electronic formats, readily accessible to....