Chapter 1—Auditing and Internal Control TRUE/FALSE 1. Corporate management (including the CEO) must certify monthly and annually their organization’s internal controls over financial reporting. ANS: F PTS: 1 2. Both the SEC and the PCAOB require management to use the COBIT framework for assessing internal control adequacy. ANS: F PTS: 1 3. Both the SEC and the PCAOB require management to use the COSO framework for assessing internal control adequacy. ANS: F PTS: 1 4. A qualified opinion
Premium Internal control Auditing Audit
following assignment is based on the Case Study below “Ryanair: the low fares airline- future destinations?” By Elanor O’Higgins Questions to be discussed: I. Critically Review the leadership style of Michael O’Leary. II. Review the concept of value chains and core competences and explain how knowledge of these concepts might assist Ryanair in its strategic development. III. Consider using suitable models the competitive position of Ryanair. [Note: The questions above are discussed in
Premium Low-cost carrier Airline Strategic management
(06) Source of Information (07) Stakeholders and their power and ability (08) Stakeholder Summary (09) Organisational Configuration (10) Evaluation of Corporate Structure (11) Functional lines of communication (11) Internal and External Linkages (13) Conclusions (15) References (16) Strategic Investigative Questions Following are the two questions which our group were assigned for discussion: Who are the main stakeholders of Mark and Spencer? What is their power
Premium Strategic management Decision making Bureaucracy
The objective of my report is to analyze the external environment in "Ryanair-’Southwest" of European airlines" case‚ which is very important factor for the firm’s formulated effective strategy. The external environment consists of a wide array of economic and sociopolitical factors. It is the specific market arenas that the organization has chosen in its strategy; it provides the business opportunities to the firm and it’s also a source of threats or forces that may impede the successful implementation
Premium Airline Low-cost carrier European Union
Stakeholder Impact Analysis To conduct a stakeholder impact analysis‚ one can begin by using the 5-question approach‚ the moral standard approach or Pastin’s approach. All three of these approaches have similar yet different stakeholder’s interests to examine. Under the first scenario‚ the mayor has a difficult decision to make. Should the mayor allow development of a large mall and resort that will displace 100 seniors? Under the 5-question approach‚ the mayor should ask whether the
Premium Morality Question Business ethics
Over and over again the Standards specify what internal auditors should provide assurance and consulting on – the scope of internal auditing (governance‚ risk management and control processes). Standard 2100 is one such injunction – “The internal audit activity must evaluate and contribute to the improvement of governance‚ risk management‚ and control processes using a systematic and disciplined approach.” What are these processes that internal auditing has to evaluate and contribute to the
Premium Auditing Internal audit Internal control
(paragraph 6‚p12) Ryanair‚ the largest low-cost carrier in Europe‚ is affected by all the above mentioned factors‚ but is still the market leader in this changing industry. So‚ what is the impact of the macro environmental factors on Ryanair’s future development? Comac‚ a technological ambition for China‚ is a potential future competitor of Boeing and Airbus in the aircraft production industry. The Chinese plane would likely cost 10% less than Boeing and Airbus jets. Ryanair’ CEO Michael O’Leary
Premium
AirBnB stakeholder analysis Stakeholder description Airbnb is a peer-to-peer platform that provides accommodation for lodgers‚ and the possibility for people with unused living space to rent it out. The website offers anything from budget rooms‚ to luxury villas‚ which makes it a serious alternative to the hospitality industry. Prior to a business conference held in San Francisco‚ the two founders Brian Chesky and Joe Gebbia decided to offer additional accommodation for the participants.
Free Lodging Hospitality industry Internet
Practices of Internally Assuring the Quality of Assessment 1.1 The internal verifier is at the heartof quality assurance in N/SVQ’s‚ both within the national framework and within the quality and management systems of each approved centre. The role‚ in terms of managing assessment so that it consistently meets national standards‚ is central to maintaining public confidence in each and every N/SVQ issued. Therefore internal verification is a key factor in managing ‘risk’ and ensuring that when
Premium Management Quality assurance Assessment
the role of internal auditing which is to assist management to maximizing the opportunities and to minimizing the threats to the organization. Internal auditing must maximize the assurance provided to the board‚ the audit committee and the management‚ and contribute to the continuous improvement strategies for the organization. So‚ how to maintain good internal auditing function within the organization? Outsourcing of internal audit function is one of the solutions. So‚ what is internal auditing? What
Premium Internal audit Auditing Audit