内部控制外文翻译Word格式.docx
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内部控制外文翻译Word格式.docx
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中文译文:
内部控制透视:
理论与概念
学院
专业
姓名
学号
指导教师
年月日
AClearLookatInternalControls:
TheoryandConcepts
HammedArad(Philae)
Departmentofaccounting,IslamicAzadUniversity,Hamadan,Iran
BarakJamshedy-Navid
FacultyMemberofIslamicAzadUniversity,Kerman-shah,Iran
Abstract:
internalcontrolisanaccountingprocedureorsystemdesignedtopromoteefficiencyorassuretheimplementationofapolicyorsafeguardassetsoravoidfraudanderror.InternalControlisamajorpartofmanaginganorganization.Itcomprisestheplans,methods,andproceduresusedtomeetmissions,goals,andobjectivesand,indoingso,supportperformance-basedmanagement.InternalControlwhichisequalwithmanagementcontrolhelpsmanagersachievedesiredresultsthrougheffectivestewardshipofresources.Internalcontrolsshouldreducetherisksassociatedwithundetectederrorsorirregularities,butdesigningandestablishingeffectiveinternalcontrolsisnotasimpletaskandcannotbeaccomplishedthroughashortsetofquickfixes.Inthispapertheconceptsofinternalcontrolsanddifferentaspectsofinternalcontrolsarediscussed.
Keywords:
InternalControl,managementcontrols,ControlEnvironment,ControlActivities,Monitoring
1.Introduction
Thenecessityofcontrolinnewvariablebusinessenvironmentisnotlatentforanypersonandmanagementasaresponsefactorforstockholdersandanothershouldimplementagreatcontroloverhis/herorganization.Controlistheactivityofmanagingorexertingcontroloversomething.heemergenceanddevelopmentofsystematicthoughtsinrecentdecaderequiredanewattentiontobusinessresourceandcontroloverthiswealth.Oneofthehottopicaboutcontrolsoverbusinessresourceisanalyzingthecost-benefitofeachcontrol.
InternalControlsserveasthefirstlineofdefenseinsafeguardingassetsandpreventinganddetectingerrorsandfraud.WecansayInternalcontrolisawholesystemofcontrolsfinancialandotherwise,establishedbythemanagementforthesmoothrunningofbusiness;
itincludesinternalcheek,internalauditandotherformsofcontrols.
COSOdescribeInternalControlasfollow.Internalcontrolsarethemethodsemployedtohelpensuretheachievementofanobjective.Inaccountingandorganizationaltheory,Internalcontrolisdefinedasaprocesseffectedbyanorganization'
sstructure,workandauthorityflows,peopleandmanagementinformationsystems,designedtohelptheorganizationaccomplishspecificgoalsorobjectives.Itisameansbywhichanorganization'
sresourcesaredirected,monitored,andmeasured.Itplaysanimportantroleinpreventinganddetectingfraudandprotectingtheorganization'
sresources,bothphysical(e.g.,machineryandproperty)andintangible(e.g.,reputationorintellectualpropertysuchastrademarks).Attheorganizationallevel,internalcontrolobjectivesrelatetothereliabilityoffinancialreporting,timelyfeedbackontheachievementofoperationalorstrategicgoals,andcompliancewithlawsandregulations.Atthespecifictransactionlevel,internalcontrolreferstotheactionstakentoachieveaspecificobjective(e.g.,howtoensuretheorganization'
spaymentstothirdpartiesareforvalidservicesrendered.)Internalcontrolproceduresreduceprocessvariation,leadingtomorepredictableoutcomes.Internalcontrolswithinbusinessentitiesarecalledalsobusinesscontrols.Theyaretoolsusedbymanager'
severyday.
*Writingprocedurestoencouragecompliance,lockingyourofficetodiscouragetheft,andreviewingyourmonthlystatementofaccounttoverifytransactionsarecommoninternalcontrolsemployedtoachievespecificobjectives.
Allmanagersuseinternalcontrolstohelpassurethattheirunitsoperateaccordingtoplan,andthemethodstheyuse--policies,procedures,organizationaldesign,andphysicalbarriers-constitute.Internalcontrolisacombinationofthefollowing:
1.Financialcontrols,and
2.Othercontrols
AccordingtotheinstituteofcharteredaccountantsofIndiainternalcontrolistheplanoforganizationandallthemethodsandproceduresadoptedbythemanagementofanentitytoassistinachievingmanagementobjectiveofensuringasfaraspossibletheorderlyandefficientconductofitsbusinessincludingadherencetomanagementpolicies,thesafeguardingofassetspreventionanddetectionoffraudsanderrortheaccuracyandcompletenessoftheaccountingrecordsandtimelypreparationofreliablefinancialinformation,thesystemofinternalcontrolextendsbeyondthosematterswhichrelatetothefunctionofaccountingsystem.Inotherwordsinternalcontrolsystemofcontrolslaydownbythemanagementforthesmoothrunningofthebusinessfortheaccomplishmentofitsobjects.Thesecontrolscanbedividedintwopartsi.e.financialcontrolandothercontrols.
Financialcontrols:
-Controlsforrecordingaccountingtransactionsproperly.
-Controlsforpropersafeguardingcompanyassetslikecashstockbankdebtoretc
-Earlydetectionandpreventionoferrorsandfrauds.
-ProperlyandtimelypreparationoffinancialrecordsIebalancesheetandprofitandlossaccount.
-Tomaximizeprofitandminimizecost.
Othercontrols:
Othercontrolsincludethefollowing:
Qualitycontrols.
Controloverrawmaterials.
Controloverfinishedproducts.
Marketingcontrol,etc
6.Partiesresponsibleforandaffectedbyinternalcontrol
Whileallofanorganization'
speopleareanintegralpartofinternalcontrol,certainpartiesmeritspecialmention.Theseincludemanagement,theboardofdirectors(includingtheauditcommittee),internalauditors,andexternalauditors.
Theprimaryresponsibilityforthedevelopmentandmaintenanceofinternalcontrolrestswithanorganization'
smanagement.Withincreasedsignificanceplacedonthecontrolenvironment,thefocusofinternalcontrolhaschangedfrompoliciesandprocedurestoanoverridingphilosophyandoperatingstylewithintheorganization.Emphasisontheseintangibleaspectshighlightstheimportanceoftopmanagement'
sinvolvementintheinternalcontrolsystem.Ifinternalcontrolisnotapriorityformanagement,thenitwillnotbeoneforpeoplewithintheorganizationeither.
Asanindicationofmanagement'
sresponsibility,topmanagementatapubliclyownedorganizationwillincludeintheorganization'
sannualfinancialreporttotheshareholdersastatementindicatingthatmanagementhasestablishedasystemofinternalcontrolthatmanagementbelievesiseffective.Thestatementmayalsoprovidespecificdetailsabouttheorganization'
sinternalcontrolsystem.
Internalcontrolmustbeevaluatedinordertoprovidemanagementwithsomeassuranceregardingitseffectiveness.Internalcontrolevaluationinvolveseverythingmanagementdoestocontroltheorganizationintheefforttoachieveitsobjectives.Internalcontrolwouldbejudgedaseffectiveifitscomponentsarepresentandfunctioneffectivelyforoperations,financialreporting,andcompliance.heboardsofdirectorsanditsauditcommitteehaveresponsibilityformakingsuretheinternalcontrolsystemwithintheorganizationisadequate.Thisresponsibilityincludesdeterminingtheextenttowhichinternalcontrolsareevaluated.Twopartiesinvolvedintheevaluationofinternalcontrolaretheorganization'
sinternalauditorsandtheirexternalauditors.
Internalauditors'
responsibilitiestypicallyincludeensuringtheadequacyofthesystemofinternalcontrol,thereliabilityofdata,andtheefficientuseoftheorganization'
sresources.Internalauditorsidentifycontrolproblemsanddevelopsolutionsforimprovingandstrengtheninginternalcontrols.Internalauditorsareconcernedwiththeentirerangeofanorganization'
sinternalcontrols,includingoperational,financial,andcompliancecontrols.
Internalcontrolwillalsobeevaluatedbytheexternalauditors.Externalauditorsassesstheeffectivenessofinternalcontrolwithinanorganizationtoplanthefinancialstatementaudit.Incontrasttointernalauditors,externalauditorsfocusprimarilyoncontrolsthataffectfinancialreporting.Externalauditorshavearesponsibilitytoreportinternalcontrolweaknesses(aswellasreportableconditionsaboutinternalcontrol)totheauditcommitteeoftheboardofdirectors.
8.LimitationsofanEntity'
sInternalControl
Internalcontrol,nomatterhowwelldesignedandoperated,canprovideonlyreasonableassuranceofachievinganentity'
scontrolobjectives.Thelikelihoodofachievementisaffectedbylimitationsinherenttointernalcontrol.Theseincludetherealitiesthathumanjudgmentindecision-makingcanbefaultyandthatbreakdownsininternalcontrolcanoccurbecauseofhumanfailuressuchassimpleerrorsormistakes.Forexample,errorsmayoccurindesigning,
Maintaining,ormonitoringautomatedcontrols.Ifanentity’sITpersonneldonotcompletelyunderstandhowanorderentrysystemprocessessalestransactions,theymayerroneouslydesignchangestothesystemtoprocesssalesforanewlineofproducts.Ontheotherhand,suchchangesmaybecorrectlydesignedbutmisunderstoodbyindividualswhotranslatethedesignintoprogramcode.ErrorsalsomayoccurintheuseofinformationproducedbyIT.Forexample,automatedcontrolsmaybedesignedtoreporttransactionsoveraspecifieddollarlimitformanagementreview,butindividualsresponsibleforconductingthereviewmaynotunderstandthepurposeofsuchreportsand,accordingly,mayfailtoreviewthemorinvestigateunusualitems.
Additionally,controls,whethermanualorautomated,canbecircumventedbythecollusionoftwoormorepeopleorinappropria
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