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Who is the Senior Reporting Official for Air Force Management Internal Control program?
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∙ 12y ago
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∙ 12y ago
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Who designates the Internal Control Administrator within the reporting organization and the appoints an Internal Control Administrator in the Assessable Unit.?
Senior Responsible Official , Assessable Unit Manager
The designates the Internal Control Administrator within the reporting organization and the appoints an Internal Control Administrator in the Assessable Unit.?
Senior Responsible Official , Assessable Unit Manager
What are contained in the reports required by Section 404 of the Sarbanes-Oxley Act?
"The Company must report on internal controls over its financial reporting. Four key elements must be included in this report:Statement of Responsibility by Company Management (the CEO and CFO) for establishing and maintaining an adequate internal control structure and procedures for financial reporting.Statement identifying the framework used by management to evaluate the effectiveness of the Company's internal control over financial reportingManagement's Assessment of the effectiveness of Internal Controls over financial reportingAttestation by the company's external auditor on Management's assessment of the effectiveness of the company's internal controls and procedures for financial reporting."
Can a audit be qualified based on internal control on financial reporting?
Can not answer this question - reword it.
What was the first objective identified by COSO's Internal Control?
Reliability of financial reporting.
What does internal control evaluation entail?
Internal control evaluation involves everything management does to control the organization in the effort to achieve its objectives
How may the success of internal control systems be measured?
Internal control would be judged as effective if its components are present and function effectively for operations, financial reporting, and compliance.
Three internal control objectives for financial reporting?
There are actually four internal control objectives of financial reporting. They are 1) Control Environment 2) Risk Assessment 3) Information and Communication Systems 4) Monitoring. These internal control objectives help aid in presenting financial statements that are free of material misstatements. But just because internal control measures are implemented, doesn't mean people cannot circumvent those controls.
Who is responsible for establishing a private company's internal control?
management
Internal control in stock holding and security?
Internal control in stock holding and security helps in the management and proper handling of the stock.
The impact of internal audit on organization?
Internal audit reveals to management whether internal control procedures are duly followed or not.
How may management's responsibility toward effective internal control systems be described?
top management at a publicly owned organization will include in the organization's annual financial report to the shareholders a statement indicating that management has established a system of internal control
