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Q: When dealing with internal control standards a is the foundation for all other standards?
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What are the violations in internal control?

Violations in the internal control involves not going according to the laid down procedure that has been designed by the organisation .Thus not following the rules that governs the activities within the organisation as well as dealing with external parties .


The Challenge of Internal Audit Jobs?

Internal auditors have the responsibility of making sure that their company's financial records are in order. They evaluate the controls that govern the company's income and expense accounts to make certain they are sufficient. These accounts must meet company and government requirements. Company requirements are based on company policy; government requirements are drawn out through various laws and procedures. Internal auditors must assure that the controls are sufficient to eliminate error or fraud. They prepare the company's tax records for the government. Dealing with overall budgets, internal auditors have also become computer savvy with a handle over the various computer software packages that aid in organizing and reporting accounts. Internal auditors generally have no responsibilities for producing strategy based on accounts or company projections. Internal auditors in the United States become Certified Internal Auditors by passing the Institute of Internal Auditors four-part examination. The examination is based on such topics as risk and control, governance concepts, fraud elements, tools for audit engagement, financial accounting, information technology concepts, and competitive analysis and strategies. After passing the test, the internal auditor must decide in which one of four areas he or she would like to receive a certificate. One can qualify for the Certified Internal Auditor certificate; the Certified Government Auditing Professional certificate; the Certified Financial Services Auditor certificate or receive Certification in Control Self-Assessment. The IIA expects internal auditors to have bachelor degrees and to follow the IIA Code of Ethics. The IIA standards are promoted and recognized across the globe, and many international internal auditors obtain their certification to practice in their countries from the IIT. Internal auditors have a medium salary of $54,000. After experience, the upper levels of internal auditors command $94,100. The number of jobs is expected to increase by 22 percent through 2014. By obtaining an MBA in accounting, internal auditors can reach a much higher salary level. The MBA degree will give the auditor necessary skills to interpret and adapt new laws to their work. Internal auditors have privileged status positions. It is important that they have a good knowledge of the law to protect their access to and knowledge of sensitive and confidential information.


What is the Tax ID number?

The Tax ID is an account number assigned to businesses and other organizations for use in dealing with the US Government Internal Revenue System for tax reporting situations. For individuals, the Tax ID number is the Social Security Number.


What are the job duties of a cashier?

If you refer to retail then in general they are to operate EPOS (electronic point of sale equipment). Cash handling, accepting customer purchases, maintaining high standards of customer service, maintain high standards of health and safety, ensure working areas are clean and meet legislative requirements. Assist the management in running the business, handing cash and cash alternatives, dealing with customer complaints at first level providing a safe environment for customers, handling stock and merchandising stock to required levels.


What are the advantages of banking?

What are the advantages of dealing with bank?

Related questions

What are the violations in internal control?

Violations in the internal control involves not going according to the laid down procedure that has been designed by the organisation .Thus not following the rules that governs the activities within the organisation as well as dealing with external parties .


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