Introduction to The Internal Controls Toolkit 9
Introduction 9
Internal Controls And Fraud Prevention 9
Internal Controls And Fraud Prevention: Additional Statistics 10
Who Will Benefit From This Toolkit 11
About The Standards of Internal Control 12
How Were The Standards Developed? 12
How Are The Standards Used? 12
What Is The Basic Premise of The Standards? 12
When Should The Standard Be Updated? 12
What Is A Best Practice For Implementing And Using The Standards? 12
General Standards of Internal Control 13
How This Toolkit Is Organized 14
1.0 Background On Internal Controls 15
The Goals And Challenges of Internal Controls 15
Risk Based Internal Controls 15
Application of Internal Controls 16
The Three Critical Corporate Controls 17
The Background And History of Internal Controls 19
Securities Act of 1933 19
Securities Exchange Act of 1934 19
Trust Indenture Act of 1939 19
Investment Company Act of 1940 19
Investment Advisors Act of 1940 19
Foreign Corrupt Practices Act (Fcpa) of 1977 19
Comprehensive Crime Control Act -- 1984 20
Federal Sentencing Guidelines For Organizations -- 1991 20
Internal Control -- Integrated Framework -- 1992 And 2013 20
Coso's Monitoring Guidance 21
Cobit -- 1996 23
Systrust -- 1999 23
Corporate Frauds -- 2001-2002 23
U.S. Sarbanes Oxley Act of 2002 24
Enterprise Risk Management (Erm) Integrated Framework -- 2004 And 2013 25
Example: Enterprise Risk Management (Erm) And The Application to The Procure to Pay (P2p) Cycle 26
An Erm Checklist 27
Internal Control Over Financial Reporting -- Guidance For Smaller Public Companies -- 2006 28
Guidance On Monitoring Internal Control Systems -- 2009 28
Definition of Internal Controls 29
Types of Internal Controls And Control Mechanisms 29
Major Types of Internal Control 29
Compensating Controls 30
Other Controls 30
Organization Controls 30
Policy Controls 31
Procedure Controls 31
Supervisory Controls 31
Review Controls 31
Leveraging The Standards of Internal Control to Implement A Controls Self-Assessment (Csa) Program 32
Ethics And "Tone At The Top" 34
What Is 'Tone At The Top'? 34
What Are The Components of An Effective Ethics Policy? 34
What Are The Components of A Well-Defined Code of Conduct? 34
What Are Examples of Poor "Tone At The Top"? 35
Code of Conduct Considerations 35
Entity Level Controls 36
Benefits For Entity Level Controls 36
"Tone At The Top" 36
Roles And Responsibilities For Internal Control 38
2.0 The Order to Cash (O2c) Process 42
2.1 Order Entry/Edit 45
2.1 Order Entry/Edit (Continued) 46
2.1 Order Entry/Edit (Continued) 47
2.2 Export Controls 48
2.2 Export Controls (Continued) 50
2.2 Export Controls (Continued) 51
2.3 Sales Contracts 53
2.3 Sales Contracts (Continued) 54
2.4 Credit 55
2.4 Credit (Continued) 56
2.5 Shipping 58
2.5 Shipping (Continued) 59
2.5 Shipping (Continued) 60
2.6 Revenue Recognition/Billing 61
2.6 Revenue Recognition/Billing (Continued) 62
2.6 Revenue Recognition/Billing (Continued) 63
2.6 Revenue Recognition/Billing (Continued) 64
2.7 Accounts Receivable (Ar) 66
2.7 Accounts Receivable (Ar) (Continued) 67
2.8 Collection 69
2.9 Cash Receipts And Application 70
2.9 Cash Receipts And Application (Continued) 71
2.10 Price Establishment 72
2.10 Price Establishment (Continued) 73
2.11 Promotional Activities 74
2.11 Promotional Activities (Continued) 75
2.11 Promotional Activities (Continued) 76
3.0 Treasury Process 77
3.1 General Treasury Controls 80
3.1 General Treasury Controls (Continued) 81
3.1 General Treasury Controls (Continued) 82
3.2 Financing Operations 83
3.2 Financing Operations (Continued) 84
3.3 Investment of Available Funds 85
3.3 Investment of Available Funds (Continued) 86
3.4 Foreign Exchange 87
3.4 Foreign Exchange (Continued) 88
4.0 Procure to Pay (P2p) Process 89
4.2 Purchasing/Ordering 99
4.2 Purchasing/Ordering (Continued) 100
4.2 Purchasing/Ordering (Continued) 101
4.2 Purchasing/Ordering (Continued) 102
4.3 Import Controls 103
4.3 Import Controls (Continued) 104
4.4 Receiving 105
4.4 Receiving (Continued) 106
4.4 Receiving (Continued) 107
4.5 Accounts Payable 108
4.5 Accounts Payable (Continued) 109
4.5 Accounts Payable Continued) 110
4.6 The Payment Process -- General 111
4.6 The Payment Process -- General (Continued) 112
4.6 The Payment Process -- General (Continued) 113
4.7 The Payment Process -- Travel And Entertainment 114
4.7 The Payment Process -- Travel And Entertainment 115
4.8 Research And Product Development 116
4.8 Research And Product Development (Continued) 117
4.8 Research And Product Development (Continued) 118
4.9 Procurment Cards (P-Cards) 119
4.9 Procurment Cards (P-Cards) (Continued) 120
4.9 Procurment Cards (P-Cards) (Continued) 121
5.0 Hire to Retire (H2r) Process 122
5.1 Payroll Preparation And Security 125
5.1 Payroll Preparation And Security (Continued) 126
5.2 Payroll Payment Controls 128
5.2 Payroll Payment Controls 129
5.3 Distribution of Payroll 130
5.4 Compensation And Benefits 131
5.4 Compensation And Benefits (Continued) 132
5.5 Hiring And Termination 133
5.5 Hiring And Termination (Continued) 134
5.6 Education, Training, And Development 135
5.7 Contingent Workforce 136
5.7 Contingent Workforce (Continued) 138
6.0 The Supply Chain Process 139
6.1 Planning & Control 142
6.1 Planning & Control (Continued) 143
6.2 Inventory Control 144
6.2 Inventory Control (Continued) 145
6.2 Inventory Control (Continued) 146
6.3 Inventory Verification 147
6.3 Inventory Verification (Continued) 148
6.4 Inventory Valuation 149
6.5 Product Cost Management 150
6.5 Product Cost Management (Continued) 151
6.5 Product Cost Management (Continued) 152
6.6 Original Equipment Manufacturers (Oems) / Alliance Partners 153
6.6 Original Equipment Manufacturers (Oems) / Alliance Partners (Continued) 154
6.6 Original Equipment Manufacturers (Oems) / Alliance Partners (Continued) 155
6.8 Tranportation And Logistics 158
6.8 Tranportation And Logistics (Continued) 159
7.0 Record to Report (R2r) 161
7.1 International Transfer Pricing 166
7.2 Intercompany Transactions 167
7.2 Intercompany Transactions (Continued) 168
7.3 Accumulation of Financial Information 169
7.3 Accumulation of Financial Information (Continued) 170
7.4 Processing And Reporting of Financial Information (The Final Mile) 171
7.5 Fixed Assets 174
7.5 Fixed Assets (Continued) 175
7.5 Fixed Assets (Continued) 176
8.0 Government Contracts 177
8.1 United States Government Contracts -- General 178
8.1 United States Government Contracts -- General (Continued) 179
8.1 United States Government Contracts -- General (Continued) 180
8.1 United States Government Contracts -- General (Continued) 181
8.1 United States Governmen
Step-by-step guidance on creating internal controls to manage risk Internal control is a process for assuring achievement of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations, and policies. This is a "toolkit" approach that addresses a practical need for a series of standards of internal controls that can be used to mitigate risk within any size organization. Inadequate internal controls can cause a myriad of problems that adversely affect its ability to provide reliable, timely, and useful financial and managerial data needed to support operating, budgeting, and policy decisions. Reliable data is necessary to make sound business decisions. - Toolkit approach with detailed controls and risks outlined for key business processes - Foundational for SOX 404 initiatives - Key material to improve internal control efforts - Guidance during M&A projects Poor controls over data quality can cause financial data to be unreliable, incomplete, and inaccurate-this book helps you control that quality and manage risk.
9781119554400 1119554403 9781119554417 1119554411 9781119554424 111955442X
EB00767018 Recorded Books
9781119554417 Wiley
2019021944
GBB9C5398 bnb
019470518 Uk
Managerial accounting.
Auditing, Internal.
Corporate governance.
Auditing, Internal.
Corporate governance.
Managerial accounting.
BUSINESS & ECONOMICS / Accounting / Managerial.
Electronic books.
Electronic books.
HF5657.4
658.15/11