4. Explain what is meant by Risk Management and Financial Crime, why it can happen and...
4. Explain what is meant by Risk Management and Financial Crime, why it can happen and how to overcome it, also give an example.
5. Why is it necessary to audit the information system, what steps
need to be taken, give an example in your office, if not yet
working, can use the example in one of the organizations /
companies of products / services.
Homework Answers
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4. Explain what is meant by Risk Management and Financial Crime,
why it can happen and...
Risk management
Corporate governance risks remain significant deficiency that can impact the reputation, existence and continuity of organizations. What account for this is partly attributed to failure of the board of directors and control systems of organizations. Also, partly because inappropriate practices are engaged in by the Board or collusion of management that override significant internal control mechanisms resulting in financial losses or inability of the board to identify key risk factors of can impact business continuity.Mostly, these failures are facilitated by...
1. Explain what is meant by business risk and financial risk. Suppose Firm A has greater...
1. Explain what is meant by business risk and financial risk. Suppose Firm A has greater business risk than Firm B. Is it true that Firm A also has a higher cost of equity capital? Explain. 2. Is there an easily identifiable debt-equity ratio that will maximize the value of a firm? Why or why not?
Describe what is meant by risk analysis with respect to requirements engineering. Why is risk management...
Describe what is meant by risk analysis with respect to requirements engineering. Why is risk management such an important part of the software requirements engineering process?
What consulting or nondash audit services are prohibited for auditors of public companies? Explain why it...
What consulting or nondash audit services are prohibited for auditors of public companies? Explain why it is generally agreed that prohibitions on consulting and non-audit services will improve auditors' professional judgment and professional skepticism. What consulting or nondash audit services are prohibited for auditors of public companies? (Select all that apply.) 1. Tax services to audit clients 2. Legal and expert services unrelated to the audit 3. Security of electronic information 4. Test the effectiveness of internal control over financial...
1. Why is fiscal management in the healthcare setting uniquely challenging? 2. Discuss the three viewpoints...
1. Why is fiscal management in the healthcare setting uniquely challenging? 2. Discuss the three viewpoints of managers in healthcare organizations and give an example of each. 3. What are the differences between the two types of accounting? 4. Explain the four steps elements of financial management. Why is it essential for healthcare organizations to effectively manage in all four elements to be successful?
1. What is "risk in a financial sense. What is it that creates risk for companies? Please be specific. (3 pts.)...
1. What is "risk in a financial sense. What is it that creates risk for companies? Please be specific. (3 pts.) 2. Pick one of the 'subareas' of finance and provide an of what is involved in that subarea. (3 pts.) 3. Describe the role that ethics should play in finance. How do "fiduciary relationships affect this? (3 pts.) 4. Why do companies usually go through a "life-cycle" where they start out as sole proprietorships and then eventually become corporations....
1. Define internal control. 2. Internal control provides reasonable assurance. Explain. 3. What are the objectives...
1. Define internal control. 2. Internal control provides reasonable assurance. Explain. 3. What are the objectives of a system of internal control? 4. Enumerate, and explain briefly, the components of an internal control. 5. What is the control environment? What are the elements that comprise the control environment? 6. What is meant by risk assessment process? 7. What is an information system? 8. What are control activities? 9. Give the different types of control activities. 10. Why is it necessary...
Answer these question in less then 3-4 lines. Questions 1. Differentiate between Management accounting and Financial...
Answer these question in less then 3-4 lines. Questions 1. Differentiate between Management accounting and Financial accounting . 2. What are the three management functions that management accounting information can be used to make them become more effective? Explain each very briefly. 3. Explain what is the process of control? 4. Why is feedback necessary in management process? 5. What does Total Quality management emphasize [or put stress on]? 6. What are the two factors that can prevent a manager...
Answer these question in less then 3-4 lines. Questions 1. Differentiate between Management accounting and Financial...
Answer these question in less then 3-4 lines. Questions 1. Differentiate between Management accounting and Financial accounting 2. What are the three management functions that management accounting information can be used to make them become more effective? Explain each very briefly. 3. Explain what is the process of control? 4. Why is feedback necessary in management process? 5. What does Total Quality management emphasize (or put stress on)? 6. What are the two factors that can prevent a manager to...
1. Why is fiscal management in the healthcare setting uniquely challenging? 2. Discuss the three viewpoints of managers in healthcare organizations and give an example of each. 3. What are the differences between the two types of accounting? 4. Explain the four steps elements of financial management. Why is it essential for healthcare organizations to effectively manage in all four elements to be successful?
1. What is "risk in a financial sense. What is it that creates risk for companies? Please be specific. (3 pts.) 2. Pick one of the 'subareas' of finance and provide an of what is involved in that subarea. (3 pts.) 3. Describe the role that ethics should play in finance. How do "fiduciary relationships affect this? (3 pts.) 4. Why do companies usually go through a "life-cycle" where they start out as sole proprietorships and then eventually become corporations....
Answer these question in less then 3-4 lines. Questions 1. Differentiate between Management accounting and Financial accounting 2. What are the three management functions that management accounting information can be used to make them become more effective? Explain each very briefly. 3. Explain what is the process of control? 4. Why is feedback necessary in management process? 5. What does Total Quality management emphasize (or put stress on)? 6. What are the two factors that can prevent a manager to...
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