NAME OF STUDENT: LESIAMITO DUNCAN SAIDIMU REGISTRATION NO: MAC-1-295-2/2007 NAME OF LECTURER: MR. RONALD WANYONYI Report submitted to the department of Computer information systems in particular fulfillment of the requirement for the bachelors of Science degree in computer information systems. SUBMISSION DATE: 9th December 2009 DECLARATION: I declare that this is my original work and has not been presented anywhere else to the best of my knowledge. Name……………………………………
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xx/xx/xxxx xacc/280 week 8 Checkpoint The collapse of Enron back in 2001 shows a number of unethical practice. This company shows unethical practice in accounting as well as business. This company is a perfect example on how unethical behavior of a few people can affect millions of individuals. This also affected these individuals for many years after. Enron was the first business to have nationwide gas pipeline networks. On November 8‚ 2001 Enron made an announcement in a SEC filing that
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V. Internal Control & Banking Relationship Basic Controls Internal control refers to a system of financial checks and balances designed to minimize errors or misappropriation of assets‚ maximize the detection if it occur and protect the association overall. It is the treasurer’s responsibility to safeguard the assets of the association by ensuring these controls are in place. One of the basics of good internal control is that no one person handles all aspects of any financial transaction
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Case Study 2 – Internal Control A review of policies and procedures for LBJ Company has been conducted‚ and there is a distinct lack of internal control that must be addressed in order for the company to go public. Internal control is identified as: “the process designed to ensure reliable reporting‚ effective and efficient operations‚ and compliance with laws and regulations” (Edwards‚ 1994). Additionally‚ to attract prospective investors‚ LBJ Company must follow the guidelines identified by the
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ACCT301 Week 2 Homework 1. In two to three paragraphs‚ describe the Sarbanes-Oxley Act and why it is important to the accounting profession. (15 points) The Sarbanes-Oxley Act was passed in 2002 by Congress after a series of scandals involving companies such as Enron‚ WorldCom‚ and Tyco. This was passed because of shady transactions and misrepresented financial data which caused shareholders to lose millions of dollars and their trust in investing in public companies. It was passed to create
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Introduction of Information Technology As we know that‚ information technology is an apprehensive with technology treat by information. In actuality‚ we use information technology to refer a complete industry. Besides that‚ information technology is used of computers or software to arrange information. In some companies‚ they call as Management Information Services. Furthermore‚ some advanced information technology department companies will be respond more strong information‚ protecting information‚ processing
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Safety Hardware Management Practices in the United States Prepared by Sunil Madanu‚ Graduate Research Assistant Department of Civil and Architectural Engineering Illinois Institute of Technology and Zongzhi Li‚ Principal Investigator Department of Civil and Architectural Engineering Illinois Institute of Technology 3201 South Dearborn Street Chicago‚ Illinois 60616 Phone: (312) 567-3556 Fax: (312) 567-3519 Email: lizz@iit.edu June 30‚ 2007 TABLE OF CONTENTS 1 INTRODUCTION..............
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Published Article-Sox Institute 12/2008 The Essence of Internal Control A statement on policy and procedures issues as they relate to managements views and /or findings with regard to OMB A-123 audits. Writing position papers on justification of actions taken has raised some questions about control. There seems to be a shift in the mind set of managers now that Section 404 of Sox’s (documentation) has really kicked in with compliance performance of the financial managers responsibility
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Internal Control Risks Identified in Apollo Shoes Assessing control risk is the process of evaluating the design and operating effectiveness of a company’s internal controls as to how it prevents or detects material misstatements in the financial statement assertions of management (Hayes‚ Dassen‚ Schilder‚ & Wallage‚ 2005). The conclusion reached as a result of assessing control risk is referred to as the assessed level of control risk. When assessing controls the auditor looks for weaknesses
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Information Technology Management is the backbone of an organization and information technology today is at heart of a business plan. Information technology has bridge the way between organizational operations with external environment. This process has facilitated the pace of activities and lessens the time needed to carry out these operations amplifying the revenues manifolds. The rise of information economies has boosted the global trade and fueled the need of new business processes and
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