The COSO's component that does'encompass the actions, policies, andprocedures that reflect the overall attitudes oftop management, directors, and owners of anentity about internal control and itsimportance to the entity' is:A- Control environment.B- Risk assessment.C- Control activities.D- Information and communication.

The COSO framework was develeoped in 1992 and has a recent version im 2013. The COSO frame work…

Answered: The COSO's component that does…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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31. Summarize why controls are needed in purchasing, receiving, and storage to help safeguard the foodservice operation's assets.
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the process of auditing and improving organizational decision and actions, and providing feedback on whether decisions have achieved the desired results, is referred to as __.
1. Organizational Structures with M&E Functions2. Human Capacity for M&E3. Partnerships for Planning, Coordinating and Managing the M&E System4. M&E frameworks/Logical Framework5. M&E Work Plan and costs6. Communication, Advocacy and Culture for M&E7. Routine Programme Monitoring8. Surveys and Surveillance9. National and Sub-national databases10. Supportive Supervision and Data Auditing11. Evaluation and Research 12. Data Dissemination and UseBased on the 12 components above, kindly assume an organization of your choice and evaluate the Monitoring and evaluation system of the chosen organization by answering the questions below. 1. Which of the 12 components of the M&E System are being applied in your organization and how? 2. Using the 12 components, list the strengths and weaknesses of the M&E System in your organization.3. How can the identified weaknesses be addressed?
Which is not a component of Internal Control? a. Control Procedures b. Control Activities c. Risk Assessment d. Information and Communication e. Monitoring
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Consider the brief description of the zero time organization. What is an example of a control system that would be critical to managing for success in the zero time organization? Why?
Brief Exercise #40: Think about a person's most recent appointment at the dentist's office. In a one (1) page response, describe the business processes that affected this person as the patient/customer. In addition, describe the administrative and accounting processes that are likely to support this business. Problem #50: Suppose that a large company is considering replacing a legacy system that is nearing obsolescence. In a one (1) page response, describe any aspects of this decision that the company should consider.
Having a good system of internal controls is essential for businesses to minimise risks, and ensure efficient operations and compliance with relevant law and regulations. However, no matter how good the system of controls, it can never eliminate risk entirely. Identify and explain THREE reasons why this is so.
In developing and implementing IT, the study team and steering committee must consider organizational goals. These include: a. General, operating management, and technical goals b. General, technical, and top management goals c. Top management, operating management, and general systems goals d. Top management, operating management, and economic goals
As a new manager, you have been reviewing the internal control structure of the cashier’s office. The cashier’s office is small with four employees. The internal control review indicates that one employee (Employee #1) performs the majority of the office's duties, such as accepting cash payments, making deposits, bank reconciliation, and so on. Based on the internal control review, how do you discuss a more robust internal control structure using the segregation of duties?
A little over two years ago, Avondale Industries acquired a company that produces a line of adhesives and sealants used in the aerospace industry. The acquisition was shortly followed by providing the best and brightest employees in the division with training every three months on topics selected by the group. A year later, the adhesives and sealants division developed a new sealant that lasts longer, is less expensive to produce, and is more effective in preventing the spread of fire or flames from the engine compartment to the airplane and preventing air leakage. The new product resulted in a sustainable competitive advantage in the market. Which of the following statements best explains how training contributed to the division’s new competitive advantage? The training gave the employees the opportunity to demonstrate their many skills and competencies to the company. The training taught the employees how to look at competitors’ products and determine how to make them…

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