We'll discuss how to measure your impact as a business, giving you several tools to help you understand where your impact is. We will also looks at ways for you to make an improvement, to increase your positive impact.
Human Resource Management, HR functions, Staffing : Job analysis, HR Planning, Recruitment, Selection
Human Resource Management, Staffing : Job Analysis
HR Planning
Recruitment
The Selection process
In this module we explain the basic Keyword needed for a CEO or Founder in the Accounting and Audit Field. We explain after that the essential for an internal control in a company. We explained the meaning of the external audit with the different type of reports that an auditor may give. We did a comparison between the IC and The EA. Finally we asked questions that could enhance the internal control while assessing it in order to empower the external audit mission.
keywords needed by a CEO or partner in the Accounting and Audit Field. The definition of the Internal control
3-Internal control structure
The internal control structure is derived from the way management runs an operation or function and is integrated with the management process.
Although the components apply to the entire firm, small and mid-size departments may implement them differently than large ones do. Together, they are designed to provide reasonable assurance that overall established objectives and goals are met.
1 Control environment
The control environment sets the tone of an organization, influencing the control consciousness of its people. Control environment factors include
• (1) the integrity, ethical values and competence of the entity's people;
• (2) management's philosophy and operating style;
• (3) the way management assigns authority and responsibility and organizes and develops its people; and
• (4) the attention and direction provided by Administration
2 Risk assessment
Risk assessment is the identification and analysis of relevant risks to achievement of the objectives, forming a basis for determining how the risks should be managed. Examples include:
• Monthly meetings to discuss risk issues
• Internal audit risk assessment
• Formal internal departmental risk assessment
3 Control activities
Control activities are the policies and procedures that help ensure management directives are carried out. They include a range of activities as diverse as approvals, authorizations, verifications, reconciliations, reviews of operating performance, security of assets and segregation of duties. Additional examples are:
• Purchasing limits
• Approvals
• Security
• Specific policies
4 Information and communication
Pertinent information must be identified, captured and communicated in a form and timeframe that enable people to carry out their responsibilities. Information systems produce reports containing operational, financial and compliance-related information that makes it possible to run and control the organization. Effective communication also must occur in a broader sense, flowing down, across and up the organization. Examples include:
• Vision and values or engagement survey
• Issue resolution calls
• Reporting
• Firms communications (e.g., emails, meetings)
5 Monitoring
Internal control systems need to be monitored, a process that assesses the quality of the system's performance over time. This is accomplished through ongoing monitoring activities, separate evaluations or a combination of the two. Ongoing monitoring occurs in the course of operations. Internal control deficiencies should be reported upstream, with serious matters reported to top management and the Regents. Examples include:
• Monthly reviews of performance reports
• Internal audit function
4- Internal control types
• Preventive and detection controls
• Hard vs. soft controls
• Manual vs. automated controls
• Key vs. secondary controls
Control activities within your Firm may include the following:
• Implementing segregation of duties where duties are divided (segregated) among different people, to reduce the risk of error or inappropriate actions. No one person has control over all aspects of any financial transaction.
• Making sure transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available.
• Ensuring records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed.
• Making certain that equipment, inventories, cash and other property are secured physically, counted periodically and compared with item descriptions shown on control records.
• Providing employees with appropriate training and guidance to ensure that they (1) have the knowledge necessary to carry out their job duties, (2) are provided with an appropriate level of direction and supervision and (3) are aware of the proper channels for reporting suspected improprieties.
• Making sure that the policies and operating procedures are formalized and communicated to employees. Documenting policies and procedures and making them accessible to employees helps provide day-to-day guidance to staff and promotes continuity of activities in the event of prolonged employee absences or turnover.
(Osma, B. G., Gomez-Conde, J., & Lopez-Valeiras, E. 2022).
Definition of the external Audit - evidence and the different types of the Audit Reports
Human Centered Approach
Why innovate
What is DT
Why DT
DT Mindset
The three dimensions of innovation
The three dimensions of solution
Key principals
DT Approach
Scopes Tool
DT process
How does DT work
Diamond Model
How Might We
Stakeholder map
Context map
Mind map
Working in teams
Stage 1: Empathy
What is Empahty
Why to Empathy
How to Empathize
Tools
Stage 2 : Define
What is define
Define Stage process
Lotus Blossom tool
Finding v/s insights
Market work / Design work
Extreme User
Point of View
Stage 3 : Ideate
What is ideate
Brainstorming
Choosing idea
Tools to ideate
Stage 4 : Prototype
What is a prototype
Why do we prototype
Tools to prototype
Stage 5 : Test
What is testing
Why testing
How to test your prototype
Tools to test