Internal control - investment, Auditing

Internal Control - Investment

Whether a trading concern holds merely a few investments, there is unlikely to be any organized internal control systems particularly for those investments.

Along with a larger investment portfolio, there should be a system of internal control that will involve:

(i) Verification actions for sales and purchases

(ii) Register reconciled along with control accounts

(iii) Control over dividend or else interest receipts

(iv) Proper separation of responsibility and supervision.

Posted Date: 1/25/2013 2:38:54 AM | Location : United States

Related Discussions:- Internal control - investment, Assignment Help, Ask Question on Internal control - investment, Get Answer, Expert's Help, Internal control - investment Discussions

Write discussion on Internal control - investment
Your posts are moderated
Related Questions
Kelley Brent, CA, is a partner in a one-office CA firm that audits Dane, Inc., a closely held corporation. Kelley''''s sister was recently appointed as the chief financial officer

The management of a newly incorporated company is unsure as to the need for an audit. Your services have been requested to explain to management the concept of auditing. Requir

Advantages and disadvantages

Documentation of Representations by Management The auditor would ordinarily involve in audit working papers evidence of management's representations in form of a summary of or

RELEVANCE OF IAS / IFRS TO AUDITING The auditors should involve in their report that their view on whether the financial statements they report are true and fair view. It is comm

The auditors for Weston University are conducting their audit for the fiscal year ended December 31, 2011. Specifically, the audit firm is now focusing on the audit of revenue from

1. Why is studying Auditing different from studying other accounting topics? 2. How might understanding auditing concepts prove useful for consultants, business managers, and other

Develop a list of tasks the auditor should perform in planning this audit engagement, before any audit testing begins. Handbook section CAS 315 lists management assertions embod

Types of audits As far we have tended to think in state of the audit of limited companies, and certainly, the emphasis during this text will be on that companies incorporated