National Capital Trust Case Analysis

In this model, the organizations effectiveness is based on stability and continuity. The internal process model expresses the process of measurement, documentation, and record keeping. The role of managers in this

The chances of failures can be decreased by executing the checks on the systems. These keep an eye on the systems preventing risks from occurring, and these checks are avoided as the interior controls. The motivation behind the inner controls is to keep the organization safe from risks associated with the modernized accounting-system risks. Organizations change their manual accounting systems to computerized accounting systems for different reasons, this incorporates the points of interest, and the explanation behind utilizing electronic accounting information is instinct. The organizations embrace the policies of their

1. To have a strong internal control system, a business must have good administrative controls. Administrative controls include: A. B. C. D. the reconciliation of the bank statement. the accuracy of the recording procedures. assessing compliance with company policies. maintenance of accurate inventory records.

With every internal control weakness a company needs to identify either a control policy or control procedure that will help prevent error or fraud from occuring in the future. Based on my suggestions as to what weaknesses existed at Goodner Brothers, Inc. I have suggested the policies or procedures that could be implemented to help prevent future issues. The internal control I would implement to hinder employee access to the accounting system would be to secure all computer programs with individual usernames and passwords to prevent access from others. The bookkeeper should be the only employee with access to the accounting system and to test this procedure the company would need to try and access the software without a username and password. To monitor the storage warehouse situation, the company should install computer scanning systems and video cameras at each location to supervize whether tires are being scanned in and out upon delivery and pick-up and to determine who and when these transactions are taking place. Semi-annual reviews should be conducted by sales managers to evaluate their sales representative. In addition, strengthening the tone at the top mentality should lie in the hands of each owner by personally reviewing all sales managers to create a top down effect.

● 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. It includes regular management and supervisory activities, and other actions personnel take in performing their duties. The scope and frequency of separate evaluations will depend primarily on an assessment of risks and the effectiveness of ongoing monitoring procedures. Internal control deficiencies should be reported upstream, with serious matters reported to top management and the board.

Kroger Co. holds management responsible for the company’s Internal Controls. With the participation of the chief executive Officer and the Chief Financial Officer, Kroger’s management conducted an evaluation of the effectiveness of the Internal Control for the company’s financial reporting. This evaluation was based on the framework and criteria established in Internal Control-Integrated Framework which was issued by the Committee of Sponsoring Organization of the Treadway Commission. Based on the evaluation, the Kroger management concluded that the Company’s

Internal controls, no matter how well designed and operated, provide only reasonable assurance to management regarding the achievement of a department’s objectives. Certain limitations are inherent in all internal control systems. Despite these limitations, the reasonable assurance that internal control does provide enables a department to focus on reaching its objectives while minimizing undesirable events. Managers can start by analyzing the two circumstances most likely to threaten the achievement of objectives, change and inherent risk. The examples listed below are not all-inclusive, nor will every item apply to every department. The risk to accomplishing objectives increases dramatically during a time of change. Because any change increases risk, managers must diligently monitor and assess all significant changes within their departments. Some examples of change that expose a department to increased risk are: Changes in personnel. Changes in the regulatory environment. New or revamped information systems and technology. Rapid growth or expansion of operations Moving to a new location. New programs or services. Reorganizations within or between

According to the Texas Trust client brief TXTCUs target market are millennials who are the primary decision makers in their household, have no credit score or a score above 620, and millennials who live, work or worship in Dallas or Tarrant County. Millennials are a generation that want relationships, are educated, and are unhappy with the current banking situation, they also make up the largest generation in the United States with around 83.1 million, with the Dallas-Fort Worth region accounting for 4.7% of that total. Texas Trust would also like to seek out potential members that are tired of big banks and want a more personal and long lasting relationship with their financial institution. TXTCU has also stated that

Respondents had legitimate non-discriminatory reasons for terminating Complainant. The investigation reveals through emails produced by Respondents, Complainant had documented performance problems and received negative feedback throughout his employment. While Complainant’s personnel file lacks written warnings due to poor performance, the investigation reveals that progressive discipline is only a suggested method to deal with an employee’s performance issues according to Respondents’ employee handbook which Complainant signed. The investigation reveals that although Complainant produced evidence that he was replaced by a younger employee (M.E.), it is insufficient to show that M.E. (Security Operations Manager) actually replaced Complainant (District Manager/Sales, a.k.a. Operations Manager). Based on a review of the job descriptions for Complainant’s and M.E.’s positions provided by the parties, while M.E. does perform the operational duties Complainant did, M.E. does not perform all of Complainant’s job functions and does not have the level of responsibility in some of his job functions that Complainant did. Furthermore, Complainant fails to show that any other employee replaced him. Complainant has provided insufficient evidence to show Respondents’ legitimate non-discriminatory reasons for terminating Complainant were pretextual. Therefore, a finding a lack probable cause is

Additionally, internal control processes are established to assist officials in safeguarding processes through regulation, documentation, recording, reconciling, and reporting their actions.

It’s clear that the Canyon Rental is facing different challenges that are related to its interal control systems. The internal control is a significant aspect of the financial and business process in all of the organizations. When it comes to the internal control so it can be effective, it must have different elements. The first thing it should have an organization to establish a strong controlled environment. The controlled environment is created through the development of a strong administration process that is influenced control of all the employees. Then the manager must develop departmental control units at the different departments and units. This is helpful when it comes to enhancing the discipline and structure of internal control processes.

Inward administration control is for the most part characterized as the procedure affected by the an element's administration, top managerial staff and other top faculty, intended to give discerning confirmation as to the accomplishment of goals in productivity and adequacy of operations, consistence with relevant arrangements, laws and directions and unwavering quality of budgetary reporting. Inward control can help an element accomplish its execution and gainfulness targets and avoid loss of assets (Cheng, Dhaliwal and Zhang, 2013). It goes far in guaranteeing trustworthy budgetary reporting consequently evading harm to an element's notoriety and different results and helping a substance to achieve its objectives and stay away from undesirable

There are several procedures that should be considered when implementing internal controls for your business. There should be a segregation of duties between different individuals to lessen the threat of

National Mutual Funds (NMF), founded in the 1940s, is one of the most important mutual fund companies in the brokerage industry in the United States. The company has extended from a mutual fund company to a financial center offering mutual funds, brokerage products including stocks and bonds, insurance products, and a variety of planning tools to help customers save for major life needs. However, since the market downturn, which is hurting many brokerage and mutual fund houses, NMF’s profits and operations have been affected significantly. To respond to the market slowdown, Harry Smallwood, President of NMF Retail Services, has come up with a directive to reorganize the call centers in the Retail Services Division in an effort

The framework describes internal control as a process designed to provide reasonable assurance regarding the achievement of objectives in the following categories: