[PDF] Intelligent Internal Control And Risk Management eBook

Author : Matthew Leitch
Publisher : Gower Publishing, Ltd.
Page : 280 pages
File Size : 37,66 MB
Release : 2008
Category : Auditing, Internal
ISBN : 9780566087998

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This important book offers a way of improving the value of control and risk management by bringing creativity and design skills to the fore. It provides an arsenal of 60 high performance control mechanisms, including several alternative ways to design controls and control systems, controls for monitoring and audit, controls for accelerated learning, and techniques for finding and recovering cash. This design material is combined with insights into the psychology of risk control, strategies for encouraging helpful behaviour and enabling change, and a surprisingly simple integration of internal control with risk management. The material is not specific to any one country and has international appeal for internal auditors and all those concerned with risk management, corporate governance and security.

Author : Matthew Leitch
Publisher : CRC Press
Page : 271 pages
File Size : 15,17 MB
Release : 2016-05-23
Category : Business & Economics
ISBN : 131711485X

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Many people in organizations resent internal control and risk management; these two processes representing unwelcome tasks to be completed for the benefit of auditors and regulators. Over the last few years this perception has been heightened by the disastrous implementation of section 404 of the Sarbanes-Oxley Act of 2002, which is generally regarded as having been too expensive for the benefits it has brought. This important book offers a way of improving this prevailing perception and increasing the value of control and risk management by bringing creativity and design skills to the fore. The value of risk and control activities is often limited by the value of the control ideas available and so Matthew Leitch provides an arsenal of 60 high performance control mechanisms. These include several alternative ways to design controls and control systems, as well as providing controls for monitoring and audit, controls for accelerated learning, and techniques for finding and recovering cash. This design material is combined with insights into the psychology of risk control, strategies for encouraging helpful behaviour and enabling change, and a surprisingly simple integration of internal control with risk management. The book is realistic, practical, original, and easier reading than most in the field. The material is not specific to any one country and has international appeal for internal auditors and all those concerned with risk management, corporate governance and security.

Author : Margaret Woods
Publisher : CIMA Publishing
Page : 212 pages
File Size : 14,82 MB
Release : 2008
Category : Business & Economics
ISBN : 0750685654

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This book is very practical in its international usefulness (because current risk practice and understanding is not equal across international boundaries). For example, an accountant in Belgium would want to know what the governance regulations are in that country and what the risk issues are that he/she needs to be aware of. This book covers the international aspect of risk management systems, risk and governance, and risk and accounting. In doing so the book covers topics such as: internal control and corporate governance; risk management systems; integrating risk into performance management systems; risk and audit; governance structures; risk management of pensions; pension scheme risks e.g. hedging derivatives, longevity bonds etc; risk reporting; and the role of the accountant in risk management. There are the case studies through out the book which illustrate by way of concrete practical examples the major themes contained in the book. The book includes highly topical areas such as the Sarbanes Oxley Act and pension risk management. * provides a cross European perspective (because current practice and understanding is not equal across international boundaries) on the key issues of risk management, internal control and governance * covers the implications of Sarbanes Oxley Act for European companies and the associated risks * explains what the current risk reporting practices are and what the analysts are really looking for * looks at the key issues you need to address in order to manage your company's pension risk

Author : Olof Arwinge
Publisher : Springer Science & Business Media
Page : 205 pages
File Size : 33,7 MB
Release : 2012-11-07
Category : Business & Economics
ISBN : 3790828823

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The concept of internal control has developed along with audit practice. As demands have been made for greater accountability in corporate governance, the significance of internal control systems in companies has increased. Traditionally internal control has had a fairly direct relationship to financial reporting quality but wider approaches to internal control have expanded those boundaries much further. Stakeholders are increasingly concerned with the effectiveness of internal controls, and disclosure requirements are making firms to go public with regard to their internal control systems. From a design perspective, current research suggests that internal control designs are contingent upon variables such as company strategies, risk appetite, regulatory characteristics, and organizational size. Also there is much to learn about internal control quality, and the way internal control quality is associated with overall corporate governance quality. This book fills that gap.

Author : Anthony Tarantino
Publisher : John Wiley and Sons
Page : 33 pages
File Size : 22,68 MB
Release : 2010-12-16
Category : Business & Economics
ISBN : 0470909668

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This chapter from Governance, Risk, and Compliance Handbook, edited by Anthony Tarantino, provides an overview of best practices for financial internal controls. It covers COSO II guidance, automation of controls, and other primary considerations. It also discusses how to achieve ROI on compliance investments.

Author : D. Chorafas
Publisher : Springer
Page : 384 pages
File Size : 20,7 MB
Release : 2001-03-07
Category : Business & Economics
ISBN : 0230597866

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With globalisation, deregulation and the advent of derivatives, credit institutions and the treasury operations of manufacturing, merchandising and service companies are finding that their traditional tools for management control no longer suffice. They must develop more efficient processes able to measure and monitor their risks in real-time. Internal control is a dynamic system covering all types of risk, addressing fraud, assuring transparency and making possible reliable financial reporting within such organisations. In Implementing and Auditing the Internal Control System , Dimitris N. Chorafas defines both auditing and internal control, and explains the value of internal control, why it must be audited, and how it can be most effectively achieved. He addresses top management's accountability for internal control, and uses case studies to demonstrate the application of such systems, and the importance of sound and well-informed analysis of the information gathered. Internal control systems are examined within the context of the globalization of financial markets, under the impact of the growth of information technology, and from the viewpoint of new regulations by supervisory authorities in Group of Ten countries as well as by the Basle Committee on Banking Supervision. Based on an extensive research project in the UK, US, Germany, France, Austria, Switzerland and Sweden, this book is an invaluable source of practical advice for implementing internal control systems, and making existing systems more efficient. It provides managers and professionals with guidelines for the interpretation and use of the resulting internal control intelligence.

Author : Michael Power
Publisher : Demos
Page : 74 pages
File Size : 44,17 MB
Release : 2004
Category : Business & Economics
ISBN : 1841801275

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The report describes the development of a new risk management culture within professions, companies and governments. The obsession with managing risk is creating organisations which are not so much risk averse as ‘responsibility averse’. In medicine, doctors are practising ‘defensive medicine’ where opinions are heavily qualified with caveats and patients left to make big decisions. The report also refers to growing evidence that since Enron’s failure, major accountancy firms are declining to work with ‘high risk’ clients - the very ones that should be thoroughly audited. “When disclaimer paragraphs are longer than the professional opinions they follow, we know something has gone wrong,” says author Professor Michael Power, a director of the ESRC Centre for Analysis of Risk and Regulation at the London School of Economics. “In the interests of transparency, small print should be made large and ruled out as a secondary risk management ploy. “The trends in professions such as medicine and auditing signal a withdrawal of individual judgement from the public. Minimal records are kept, staff are cautioned about the use of email, and normal correspondence is littered with disclaimers. The risk management of everything implies a society of ‘small print’.” Power sees the rise of the ‘risk management of everything’ as a related trend to the audit culture, which included the government’s now widely criticised love of targets as a policy tool. The Audit Explosion, Power’s previous Demos pamphlet, predicted that the overuse of audit leads to a focus on measurable outputs rather than real outcomes. “The most influential dimension of the audit explosion is the process by which [organisations] are made auditable and structured to conform to the need to be monitored,” Power wrote in 1994. Power’s new book argues that risk management is the ‘new audit’ and is having a similar distorting effect on the performance of professionals, companies and government.

Author : Scott Green
Publisher : John Wiley & Sons
Page : 254 pages
File Size : 26,36 MB
Release : 2004-02-19
Category : Business & Economics
ISBN : 0471650080

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Need help ensuring your campany complys with Sarbanes-Oxley? Armed with this hands-on guide, you can detect early signs of fraud and operational loss, and safeguard your job, your employees' jobs, and the long-term success of your company. Don't let fraud derail your career. Protect yourself with the fail-safe Control Smart method found in Manager's Guide to the Sarbanes-Oxley Act. Order your copy today!

Author : K. H. Spencer Pickett
Publisher : John Wiley & Sons
Page : 390 pages
File Size : 33,20 MB
Release : 2011-03-31
Category : Business & Economics
ISBN : 1119973821

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The Second Edition of The Essential Guide to Internal Auditing is a condensed version of the Handbook of Internal Auditing, Third Edition. It shows internal auditors and students in the field how to understand the audit context and how this context fits into the wider corporate agenda. The new context is set firmly within the corporate governance, risk management, and internal control arena. The new edition includes expanded coverage on risk management and is updated throughout to reflect the new IIA standards and current practice advisories. It also includes many helpful models, practical guidance and checklists.