Alternative summarised version of tests of controls, Financial Management

Assignment Help:

Alternative summarised version of tests of controls

· Segregation of duty (staff records are separate from wages department)

· Documentation (written evidence)

· Authorisation(by senior personnel)

· Review(by senior personnel of other staff work)

Remember no control is fool proof. Humans are careless, misunderstand, distracted easily and make mistakes. Collusion may always happen to override controls and responsibility given could always be abused.

Related Discussions:- Alternative summarised version of tests of controls

OPERATING CYCLE OF VEGETABLES, APPLICABILIYI OF THE OPERETING CYCLE

APPLICABILIYI OF THE OPERETING CYCLE

Risk-free rate, Assume you manage a $4.42 million fund that having of four ...

Assume you manage a $4.42 million fund that having of four stocks with the following investments: Stock Investment Beta A

the use of a preauthorized check system, In general, what type of firm wou...

In general, what type of firm would benefit from the use of a preauthorized check system and what specific types of companies have successfully used this device to accelerate cash

Explain the implicit cost of capital, Explain the Implicit cost of capital ...

Explain the Implicit cost of capital Implicit cost of capital can be defined as the rate of return associated with the best investment opportunity for the firm and its Shareho

What is adjusted basis, Q. What is Adjusted Basis? Adjusted Basis - Aft...

Q. What is Adjusted Basis? Adjusted Basis - After a taxpayer's basis in property is determined, it should be adjusted upwardto include any additions of capital to the property

Principle of calculation of goodwill, This question tested the core area of...

This question tested the core area of specifically gradually consolidation and acquisitions (control to control). The principle of calculation of goodwill at the date where control

Types of investors in capital market, investors in capital market

investors in capital market

State the term- pass through certificates, State the term- Pass Through Cer...

State the term- Pass Through Certificates (PTCs) Pass through Certificates (PTCs) are debt securities which pass through income from debtors through intermediaries to investors

Analysis of company position, Analysis of Company Position Associated ...

Analysis of Company Position Associated International Supplies Ltd Circulation: Associated International Supplies Ltd (AIS Ltd.) Author: A. Consultant, AXY Consultin

Show the advantages of adjusted discount rate, Q. Show the Advantages of ad...

Q. Show the Advantages of adjusted discount rate? Advantages:- (1) It is simple to understand and simple to calculate. (2) The risk premium rate comprised in the risk adj

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages