Internal audit and corporate governance Essay Example | Topics and Well Written Essays - 2500 words

Internal audit and corporate governance - Essay Example Although internal auditors are characteristically accountants, this activity can also be carried out by other qualified experts who are knowledgeable with the company's functions as well the necessary regulatory requirements. (Friedberg, 2004) The span of internal auditing in an organization is expansive and it may engage internal control issues such as the effectiveness and efficiency of business processes, the consistency of financial reporting, preventing and inspecting fraud, protecting resources and other important assets, and observance with the laws and organizational strategies. (Friedberg, 2004) Internal auditing repeatedly requires measuring observance with the businesses' policies and procedures. Nevertheless, internal auditors are not accountable for the implementation of business activities; they give advice to the senior management on the subject of how to better accomplish their responsibilities. Management is responsible for internal control. (Friedberg, 2004) Management sets up the course of action and designs processes to facilitate the organization in achieving particular objectives in each particular field. Internal auditors perform audits to evaluate whether the policies and processes designed are operating effectively and provide recommendations for improvement. (Friedberg, 2004) To execute their responsibility efficiently, internal auditors have need of self-rule from management, to facilitate open and clear assessment of organizational activities and personnel. Although, internal auditors are part of company management and are paid by the company, but the most important client of internal audit activity is the body charged with supervision of management's actions. (Friedberg, 2004) Internal auditors may also help businesses' commence and retain Enterprise Risk Management processes. The Internal auditors also play an imperative task in facilitating businesses' to carry out a top-down risk assessment. In these concluding two fields, internal auditors usually are part of the project team in an advisory position. Based on a risk evaluation of the business, the internal auditors, and the senior management determines where to concentrate the internal auditing uphill struggle. (Rezaee, 2002) Internal auditing activity is normally carried out as solitary or as more distinct projects. A characteristic internal audit plan comprises of the subsequent measures. First and fore mostly, it begins with establishing and sharing the degree and purpose for the audit to appropriate management. This is followed by developing an understanding of the business division in evaluation. This encompasses objectives and significant operation types, it involves analysis of credentials and dialogues; flowcharts and accounts may be created if necessary. (Rezaee, 2002) Then the identified control measures are used to make certain that each crucial business transaction is correctly controlled and scrutinized. After that, the internal auditors work out and execute a risk-based sampling and examining approach to find out whether the a good number of important controls are working

Communication management introduction Assignment - 1

Communication management introduction - Assignment Example Communication management is very diverse; it is also concerned with the process of developing corporate communication strategies, designing internal and external communications directives and strategies as well as managing the flow of information where online communication processes are also involved brand (May &Mumby2005). Development in information and communication technologies brings about the need for constant innovation on the part of communications managers in order to remain relevant in business practice (Pauley & Joseph 2009). Learners, who are organizational managers in this case, will be required to observe the following important rules in order to enjoy the program; first, it will be important that they make a good first impression in class. Research has always brought the important of a first impression in various instances, in this program; a good first impression to the professor especially on the first day will portray a serious and pleasant student, something that is likely to earn you the benefit of doubt as much as grades are concerned. Class attendance has to be done regularly and on time, this is an important rule in other areas of life. Students need to know that it is pretty hard for professors to notice you negatively wandering in class after the lecture has begun. This rule seems obvious that it ought not to be said, however, in every class, there will always be an absentee or one student who occasionally comes late. One should try to find a comfortable place to sit particularly at the front or center of the classroom; this is the best place where one is not distracted. In addition, sitting at this place makes one to follow easily the lecture proceedings and make notes. Students who like sitting at the back of the class are often assumed to be either lazy or shy, especially those who prefer positions in the corner of the room. Managers are expected to be alert all the