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Internal
Control, Risk Management and Corporate Governance
- How
to establish the internal control system by providing
fundamental discipline and structure?
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Effectiveness of the company's internal control over financial
reporting.
- How
to identify and analyze relevant risks?
- What
are the policies, procedures, and practices that ensure
management objectives are achieved and
- How
to carry out risk mitigation strategies?
- How
to assure compliance with rules and regulations?
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Importance of the IT infrastructure.
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Examples of
Minefields in Accounting
Revenue measurement and recognition,
reported earnings (e.g. create false invoices, purchase
orders)
Asset valuation (e.g. Valuing a land or
building more than it’s real worth)
Derivatives
Related-party transactions
Means of concealing debt
Shifting
current expenses
to a later or earlier period |
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Corporate
