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What are the criteria for effective strategy?
The three tests for an effective strategy are: external, internal, and dynamic consistency.
How are managers most likely to interpret the reasons for effective performance?
internal attributions are made for high LMX members and external attributions are made for low LMX members
What is the method used to implement controls?
The method used to implement controls typically involves a systematic approach that includes defining objectives, identifying risks, and selecting appropriate control measures. This process often follows a framework such as COSO or ISO standards, which help in establishing internal controls. After implementing the controls, organizations must monitor their effectiveness and make necessary adjustments to ensure they are functioning as intended. Regular assessments and audits are also crucial for maintaining and improving control systems over time.
How can a manager manages an internal and external business environment?
How a manager manages internal and external environment of the organisation?
What is the Difference between External Failure Costs and internal failure costs?
External failure cost is the cost incurred to fix the defects given by customer. Internal failure cost is the cost associated with internal verification activities like fixing the review comments or fixing the internal testing bugs.
An internal control evaluation is a detailed systematic and comprehensive examination of key controls to determine if they and rsquore in place being used as intended and effective in achieving their?
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An internal control evaluation is a detailed systematic and comprehensive examination of key controls to determine if they and acirc and 128 and 153re in place being used as intended and effective in?
An internal control evaluation assesses if key controls are in place, being used as intended, and effective in achieving their intended purpose of safeguarding assets and ensuring accurate financial reporting. It helps identify weaknesses and areas of improvement to enhance the overall control environment of an organization. Regular evaluations are essential to mitigate risks and maintain the integrity of operations.
What kind of program does the air force accounting and finance office provide to ensure effective internal controls?
quality assuranace
How does the Institute of Internal Auditors define internal controls?
The definition of internal control included in SAC is: a set of processes, functions, activities, sub-systems, and people who are grouped together or consciously segregated to ensure the effective achievement of objective
Who is responsible for establishing and maintaining internal controls to achieve the objectives of effective and efficient operations reliable financial reporting and compliance with applicable laws?
Managers
What is the mandate of internal auditors?
Internal auditors identify control problems and develop solutions for improving and strengthening internal controls. Internal auditors are concerned with the entire range of an organization's internal controls
What are the obligations of federal agencies with regard to internal controls?
Assess and document their internal controls over financial reporting. Document their assessment of the effectiveness and reliability of those internal controls. Provide a separate assurance statement
How internal control is advantages to clients?
Internal Controls can help protect client privacy. Ex.: Good internal controls on a website will protect clients credit card numbers from hackers.
What internal controls did Enron violate?
all
Why are internal controls important?
Internal controls are procedures set up to protect assets, ensure that accounting reports are reliable, promote efficiency, and encourage adherence to company policies. Internal controls are crucial if accounting reports are to provide relevant and reliable information.
Is bank statements considered as bank reconciliation statement?
All of the following requirements about internal controls were enacted under the Sarbanes- Oxley Act except; independent outside auditors must attest to the level of internal control. independent outside auditors must eliminate redundant internal controls. companies must develop sound internal controls over financial reporting. companies must continually assess the functionality of internal controls.
Are external chills as effective as internal chills?
Internal and external chills are equally effective when used for the purpose for which they are intended.
