Internal Auditing Essays and Research Papers

Instructions for Internal Auditing College Essay Examples

Title: IT Aduiting

  • Total Pages: 8
  • Words: 2289
  • Works Cited:0
  • Citation Style: APA
  • Document Type: Essay
Essay Instructions: I am Requesting Writer: jowriter63 OR FLWriter2011

PAPER SPECIFICATIONS:
Below are Four (4) questions, and I am requesting Two (2) pages per question.
VERY IMPORTANT: The paper MUST show DEPTH and FOCUS to show your understanding of the questions
There are no number of restrictions on the source of references but reference MUST come from reputable sources.

INSTRUCTION:
The real corporation/company world and the textbook world do not always relate to one another, so using your auditing course knowledge, answer the following questions:

1) Discuss about the difficulties of establishing good internal auditing practices in a company?

2) How would you establish an auditing department and what interfaces would be required into the corporate infrastructure?

3) How would you implement policies that dictate what responsibilities’ that would be required, including standards or internal company polices

4) How would you monitor the implementation of your selected polices to verify that they are active and applied.

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References

Corporate governance: the role of internal control. (2007). Hamilton, Ont: Society of Management Accountants of Canada.

Hightower, R. (2009). Internal controls policies and procedures. Hoboken, N.J: Wiley.

Pickett, K.H. (2005). The essential handbook of internal auditing (Condensed version of 2nd ed.). Chichester: John Wiley.

Reding, K.F. (2007). Internal auditing: assurance & consulting services. Altomonte Springs, Fla: Institute of Internal Auditors, Research Foundation.

Thomas, C., & Parish, T. (1999). Co-Sourcing: What's in it for Me. Journal of Accountancy. Retrieved from http://www.answers.com/topic/audits-internal#ixzz23AlAYJo4

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Title: Donald Reynolds director internal auditing department received anonymous tip employee high tech manufacturing plants The employee noted a major embezzlement taking place divisions Internal audit completed a routine review internal control division previous year found control system properly designed operating effectively

  • Total Pages: 5
  • Words: 1391
  • Bibliography:3
  • Citation Style: MLA
  • Document Type: Research Paper
Essay Instructions: Donald Reynolds, director of the internal auditing department, received an anonymous tip from an employee in one of the high tech manufacturing plants. The employee noted that there was a major embezzlement taking place in one of the divisions. Internal audit had completed a routine review of internal control of that division the previous year and found that the control system was properly designed and operating effectively. Only minor recommendations were made, and the next review is due 3 years later.

The employee noted the erratic behavior and lavish lifestyle of the plant controller and stated that the controller has been overriding existing controls, which would prevent any audit from being able to detect the embezzlement. The plant controller is well-respected and highly trusted by the CEO and CFO, and their families are involved in the same civic and religious organizations. Investigating the plant controller could cause considerable disruption in the company and the personal lives of the employees.

Please answer the following questions. As you answer each question, you must provide support or evidence that will enhance and empirically prove your answers. Academic criminal justice articles or real life criminal justice findings that are not found in journals or other academic sources must be used in supporting your answers. Please use APA style for all cited sources including your resource page.

Given the situation, discuss some of the options the company has for handling this situation.
Assuming you decide to investigate these allegations, describe the investigation steps.
In preparation for the interviews, note the order of the witnesses who would be interviewed and how you would plan, conduct, and document your interviews.
Discuss how you would conduct an admission-seeking interview of the plant controller.
Please submit your assignment.

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References

Albrecht, WS., Albrecht, CC., Albrecht, CO. Zimbelman, MF (2011) .Fraud Examination. Cengage Learning

Anderson, R. 2007. The Credit Scoring Toolkit: theory and practice for retail credit risk management and decision automation. New York: Oxford University Press.

Albrecht, W.S., and G.W. Wernz.( 1993). The three factors of fraud. Security Management 95: no pagination as electronic article

Bamfield, J. (2004), "Shrinkage, shoplifting and the cost of retail crime in Europe: a crosssectional analysis of major retailers in 16 European countries," International Journal of Retail & Distribution Management, Vol. 32 Nos 4/5, pp. 235-241.

Bottomly, L (2010). Legal Issues in Employee Fraud. Ater Wynne LLP

Ernst & Young (2009). Detecting financial statement fraud:What every manager needs to know.

http://www.ey.com/Publication/vwLUAssets/FIDSFI_DetectingFinancialStatementFraud.pdf/$FILE/FIDS-FI_DetectingFinancialStatementFraud.pdf

Hemph ill, C.F. Jr. And Hemphill, T. (1975), The Secure Company, Dow Jones-Irwin,

Homewood, IL.

Mishra, B.K., and Prasad, A. "Minimising retail shrinkage due to employee theft," International Journal of Retail and Distribution Management (34:11), 2006, pp. 817- 845

Weber, J., Kurke, L. & Pentico, D. (2003). Why do employees steal? Business and Society, 42,

pp. 359-374.

Wells, J.T. (2001). Why employees commit fraud. Journal of Accountancy, February 2001.

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Title: Accounting careers

  • Total Pages: 14
  • Words: 3822
  • Sources:9
  • Citation Style: None
  • Document Type: Essay
Essay Instructions: This is the proposal that was approved by my professor. Please write it to match the 3 main topics in the proposal, public accounting careers, corporate accounting careers, and governmental accounting careers.

Authorization and Background

Career options available to entry level accounting graduates include public accounting, corporate accounting, and governmental accounting. These vocational options are each divided into more specialized areas of practice. This research proposal seeks authorization to conduct in depth research into the aforestated areas of accounting as they relate to career selection.

Intended Audience

Identifying the audience will make the writing process simpler because the purpose and style of the research will conform to the standards required by the audience. With this research proposal focusing on a significant personal decision, the primary audience for this research project will be Professor Seguin in her position of instructor to the researcher and writer.

Defining the Problem and Purpose of the Research

Accounting seniors and recent graduates may possess theoretical knowledge of accounting theory, but often know little to nothing regarding the careers available to them upon graduation. In order to make a competent decision about which career to pursue, the available options should be scrutinized. Conducting research into each area of professional practice is necessary to eliminate confusion regarding the professional variation in accounting positions. This research will endeavor to answer the question: What are the professional differences in working in the fields of public accounting, corporate accounting, and governmental accounting.

Scope of Research

The scope of research will include three major headings which are public accounting, managerial accounting, and governmental accounting. Each major category will be subdivided as follows:

Public accounting

Taxation Services

Assurance and Audit Services

Advisory Services

Corporate accounting

Cost accounting

Controllership function

Internal auditing

Governmental accounting

Budgeting

Criminal Investigation

Auditing

Limitations and Delimitations

It is planned to interview accounting professionals about how they began their career and their job functions. It is probable that their cooperation will be limited if they are busy or view being interviewed as a nuisance. The length of the time necessary to conduct the research is limited and thus the deadline is another limitation. A major delimitation relates to the scope of research being undertaken. The research will be limited to three major career fields in accounting.

Data Collection and Analysis

Data will be collected from a variety of sources including personal interviews, web sites, books, and journal articles. The data collected will be analyzed qualitatively.

Works Cited

American Institute of Certified Public Accountants. Web. 27 Sept. 2009. .

Gaylord, Gloria L. Careers in accounting. New York: McGraw-Hill, 2006. Print.

IMA - Institute of Management Accountants. Web. 27 Sept. 2009. .

The Institute of Internal Auditors (IIA) - Welcome - The Institute of Internal Auditors. Web. 27 Sept. 2009. .

Prendergrast, Mark. "Sole proprietor, CPA." Personal interview.

Time Schle

October 25th a progress report will be submitted in the form of a PowerPoint slideshow. This progress report will demonstrate the depth of research conducted and the progression of the project.

November 22nd the project is schled for completion and will be submitted for a final grade.

Resources Needed

The Supplies needed to conduct research on the proposed topic include a travel allowance to drive to the library and to Kent State University. The accountants to be interviewed will be provided at the Beta Alpha Psi meetings held every Thursday. Microsoft Word, having already been acquired, will be utilized to write and edit the research paper.

Request for Approval

I hope that I have provided you with sufficient information to make an approval decision on the proposed topic. I seek your approval to continue with this line of research. Please email me at with your decision.
There are faxes for this order.

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Bibliography

Douglass, Kevin (2006) the Reality of the CPA's Role New Jersey CPA Magazine, April 2006. Accounting and Auditing. Online available at: http://www.amper.com/publications/amper-cpa-role.asp

Erard, Brian (1992) Taxation with Representation: An Analysis of the Role of Tax Practitioners in Tax Compliance. Journal of Public Economics 52 (1993) 163-107. North-Holland. Online available at: http://aysps.gsu.edu/isp/files/ISP_SUMMER_SCHOOL_2008_ERARD_TAXATION_WITHOUT_REPRESENTATION.pdf

Financial accounting for Local and State School Systems (2005) Chapter 4: Governmental Accounting. National Center for Education Statistics. U.S. Department of Education, Institute of Education Sciences. Online available at: http://nces.ed.gov/pubs2004/h2r2/ch_4.asp

Garrison, Ray H. And Noreen, Eric W. (2009) What is Managerial Accounting/Cost Accounting. Accounting Management. Online available t: http://www.accountingformanagement.com/

Moussalli, Stephanie (2006) Accounting for the Journal's First 100 Years: A Timeline from 1905 to 2005. Journal of Accountancy. 1 Oct 2005. Online available at: http://www.thefreelibrary.com/Accounting+for+the+journal's+first+100+years:+a+timeline+from+1905+to+...-a0138313749

Riedl, Brian M. (2005) Top 10 Examples of Government Waste. Issues -- Federal Budget and Spending. The Heritage Foundation. Backgrounder #1840.

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Title: AC562 Audit Assignment Overview Background Corporate governance defined system companies directed controlled Sound corporate governance important element sustainable private sector development strengthens businesses ability attract investment grow makes stronger efficient accountable

  • Total Pages: 2
  • Words: 555
  • References:2
  • Citation Style: MLA
  • Document Type: Research Paper
Essay Instructions: AC562 Audit, Assignment
Overview
Background: Corporate governance is defined as the system by which companies are directed and controlled. Sound corporate governance is an important element of sustainable private sector development - not only because it strengthens businesses? ability to attract investment and grow, but also because it makes them, stronger, more efficient, and more accountable.
What we do: IFC works with firms to attract and retain investment by promoting the adoption of good corporate governance practices and standards.
How we do it: IFC is building on its successful track record with the aim of delivering targeted corporate governance support to more clients and stakeholders for even better results by:
Assessing a firm?s corporate governance practices and providing advice on how to improve its practices.
Building capacity of local consulting firms, directors? institutes, media, and educational institutions to support corporate governance reform.
Working with regulatory institutions and governments to improve corporate governance laws, regulations, codes and listing requirements.
Raising awareness through conferences, workshops, roundtable discussions and training of business reporters as well as through the sharing of good practices.
Project Examples
Improving Corporate Governance in Southern Europe
Corporate governance has been gradually emerging as a key business concept in the countries of southern Europe, in particular as countries in the region seek foreign direct investment and are progressing on the European Union path. The Project supported Albania, Bosnia and Herzegovina, Kosovo, FYR Macedonia, Montenegro and Serbia in the adoption of sound corporate governance practices at the framework and company levels. The first phase of the project introduced corporate governance concepts to the market and representatives of market institutions and the private sector. The second phase focused on working in a more concentrated way with companies and public sector institutions that could play a role in promoting corporate governance.
Overall results and impact achieved: Reached 1,356 companies, financial institutions and other interested parties in the region.
Assisted over 77 companies in improving their performance and raising over $309.7 million of financing attributable to improvements in their corporate governance.
Supported the adoption of 24 laws, regulations, codes, and nationally disseminated corporate governance tools.
Helped 8 universities to develop and deliver postgraduate corporate governance programs, courses and modules.
Board Leadership Program Evolves to Better Respond to Client Demand: The Board Leadership Training programs? training of trainers (TOTs) remains the main flagship capacity-building activity of the IFC Global Corporate Governance Forum, with nine extensive training workshops conducted in the last six months. In the regions and countries where the program has already created a cadre of local trainers, the Forum introduced ?advanced? TOTs aimed at deepening the skills and build the confidence of trainers through concentrated mentoring.
In Nigeria, we partnered with the Financial Institutions Training Centre to localize and adapt the Banking Supplement and equip trainers to train directors in the local banking sector. Once these trainers completed the basic training, they went through the ?mentored? TOT stage, where they could apply their newly acquired skills under the guidance of our master trainers. They then attended the third stage workshop to hone their skills and address their last comments and feedback on the localized curriculum.
Overall results and impact achieved in Nigeria:
25 modules adapted and localized (including 8 new modules)
25 trainers trained
58 Nigerian directors trained during the first year (about 20% of the entire number of bank directors in Nigeria)
Promoting Corporate Governance Standards for Investors: IFC?s Corporate Governance Methodology has been distilled into a unified set of tools known as the Corporate Governance Development Framework. The Framework was adopted by 29 development finance institutions (DFIs), including IFC, in September 2011. Signatory institutions cover emerging markets around the world and represent assets of approximately $852 billion.
The Framework will help DFIs assess the quality of corporate governance at the companies in which they invest. Signatories to the Framework aim to raise awareness of the importance of good governance to sustainable economic development, both at the private and public sector levels. By adopting a unified approach, DFIs will set consistent standards for corporate governance due diligence and advance the business case for good corporate governance.
Selected overall results and impact achieved*:
Nearly $2.9 billion in financing facilitated between fiscal years 2006-12.
Over 10,000 entities received corporate governance advisory services.
65 corporate governance codes and laws enacted in 24 countries.
29 development finance institutions, including IFC adopted the Corporate Governance Development Framework in 2011.
Over 120 publications produced, including translations, and disseminated to internal and external stakeholders.
Provided corporate governance assessments to 68 IFC clients, representing more than $5.05 billion in combined new debt and equity investments in fiscal year 2012.
*As of June 2012
http://www1.ifc.org/wps/wcm/connect/topics_ext_content/ifc_external_corporate_site/corporate+governance/overview
Reporting and Relationships Case Study: Internal Auditing Reporting Relationships: Serving Two Masters
Review the information contained with the governance report, and answer the following questions:
?What is the correct relationship of internal audit to senior management?
?How should conflict be managed? Is conflict inevitable?
?What types of relationships would compromise independence?
?What should the Audit Committee of the Board of Directors do to ensure auditor independence?

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