The Role Of Ict For Effective Implementation Of Internal Control System Essay

In this society today technology plays an important role because it’s a communication channel. Many of people across this world use technology as a form of communication. Technology is the easiest way to converse with someone through different websites and smartphones. Technology is one of the most popular things that man created. Information technology can be helpful in many of ways to bureaucrats in making decisions. It can assist the bureaucrats by viewing the last year budget such as comparing and contrasting. Bureaucrats can conduct different task by keeping an account of the budget, distribute resource, and analyze the budget results. . (Milakovich &Gordon, 2014). Even create reports, spreadsheets in excel, and download different things to help the bureaucrats make good decisions. Information technology is a good source

New audit technologies assist in audit. It make the audit well organized and best results are achieved efficiently and effectively. The auditor uses computer assisted technique to perform the audit. The ultimate purpose for the use of technology is for a faster and more efficient audit process.

The purpose of this report is to present an analysis of Jungle Books’ accounting information system, and finding its inefficiencies, internal control weakness in its expenditure cycle .Also, understanding the importance of these problems, and attempt to solving them without merely adding employees or staffs.

Dentistar, Inc. was formed in 1985 to provide dental and orthodontic services to subscribers of their prepaid dental plans. This report examines the western region’s office, located in Los Angeles, and its issuance of excessive manual checks that resulted in multiple bank overdrafts. Results indicate that only minimal efforts have been made for internal control measures in this office and companywide, and that weaknesses have allowed the Finance Coordinator to embezzle funds. There are many issues to be addressed, and several remedial actions to be taken to prevent these types of losses going forward.

1.1 This report has been prepared to cover the assessment criteria requirements of AAT learning and assessment area ‘internal control and accounting system.

To organize reliable financial information is a necessary responsibility of the management of each public organization. The aptitude to successfully manage the organization's business requires accessibility to appropriate and accurate information. Furthermore, investors must trust company's financial reports if the company wishes to raise capital in a public security market. The management's ability to produce trustworthy, reliable, and accurate financial reports depends on the design and success of the processes and safeguards it has put into place over their financial reporting. Although sensible control systems fail for produce ultimate guarantees to assure that financial reports will be free from errors or misstatements, an effective internal

I completed the Internal Control Program requirements for the International Affairs Foreign Military Sales D/NGA FY16 Statement of Assurance to the Secretary of Defense. This assessment tests the effectiveness of mission-essential processes and key internal control activities, to identify areas of risk associated with foreign military sales work procedures. Further, I reviewed and completed a process document detailing the high level process flows and narratives for the NGA Foreign Military Sales program. This document is critical in showing internal auditors the program has healthy operational and financial manual and systemic controls that are in alignment with Defense Security Cooperation Agency policy. It also ensures International Affairs

This portfolio focus on what I have learned during the whole IT Strategy and Control paper, a critical reflection of this paper would be provided. This reflection includes the key points, support reference and the demonstration of my own understanding about the paper itself and all of my personal understandings are based on the learning outcome of this paper. In the first part of this portfolio, I would discuss all the key IT Operations Management framework which have been introduced in the paper, the analysis of the processes based on my own understanding would be given. In the second part, analyze processes required for aligning IT infrastructure and operations with the business goals of an organization would be talked about, and I would focus a business organization which has been mentioned in the caselets as a sample. In the third part, some critical evaluate operational IT organizations and their processes against the studied models would be listed and analyzed. In the last part, the recommendations and analysis of my own would be given against those organizations (caselets) which have some problems and current issues arising from the implementation of the IT framework.

Ethical issues involving information accounting is a part of doing business and a large part of personal human ethics. Accounting ethics refer to codes or moral systems used to determine right and wrong in accounting. Accountants have a challenge with the arrival of information technology to observe business ethics in the field of accounting. Technology needs to be appreciated and used by accountants in the most important ways to improve efficiency, regulatory compliance, enhance financial reporting, increase revenues, and enhance management practices. Accountants also need to be well informed with new technology and come up with the need for appreciating technology use in their firms. Technology has therefore created a

While utilizing the aforementioned controls will greatly reduce risk of financial fraud, there are inherent risks concerning information technology systems. Organizations integrated in a global frame, face an overarching environmental risk involving stability, which primarily concerns IT. The rapid production and ingenuity of increasing computing power, coupled with consistent gains in the growth of technology, have a direct result in an exponentially vibrant information technology atmosphere. This dynamic environment causes constant changes within internal controls in companies. Currently, “IT is considered one of the main risk factors in organizations, and both lack and excess of such investments can compromise the structure and the operations of the firm.” (Lunardi, Becker, Macada, & Dolci 2010)

Control is a set of mechanism that assists an organization to attain the desired objective. Control is fundamental to achieve organizational goal, and control aligns the aspiration of workforce with their capabilities. On the other hand, internal control for information security is the practice policies, procedures and responsibility structure that assists an organization to manage risks and protects organization information assets. Internal control plays a critical role in the overall effectiveness of information security. Much security breach within an organization often occurs because of lack of proper internal control structure. The United States enacts Sarbanes-Oxley Act in response to the public outcry that there was a lack of internal control assessment within most organizations in the United States. Typically, effective internal control assists an organization to achieve a business integrity, adequate security governance and business continuity. Lack of effective control could lead to a security breach or subversion and could lead to the inability to implement effective control information security system. (Sushma & Gurpreet 2005). Internal control for information security needs to be designed to minimize business risks and maximize return on investment (ROI).

I was asked to give my recommendations on LJB Company’s internal control system before the company decides to go public in the future. Based on my review of the information that I have been given, the following are my recommendations for new internal controls:

In the rapidly changing business environment, there is enormous pressure to conduct activities in a better, controlled and efficient manner. The accelerating change creates uncertainties and complexities thus creating challenges for management in their strategic plans. Management cannot continue to rely on Management Accounting Control Systems whose primary emphasis is on financial targets since such traditional analytical approaches can fail to adapt to the quick and unexpected economic landscape. The use of information systems for control has been widely adopted to deal with such challenges, but the current business world places a greater imperative on non-financial targets hence the MCS tools need to capture non-financial perspectives. This paper provides that managers must not rely on quantitative performance targets hence supports the argument for setting non-financial targets in organizational objectives

Information Systems Research Centre, Cranfield School of Management, Cranfield, Bedford MK43 0AL, UK Much has been written over the last decade on managing global enterprises. While the predominant concern of this literature has been strategic in orientation, the management of information is a neglected area. By drawing on a diverse range of literature in the international business, strategic management, organization design, and information system (IS) disciplines this paper develops a

NGOs perform a variety of services and functions: Humanitarian information to governments on the concerns of their citizens to monitor government policies and promoting political participation at the community level. They provide analysis and expertise, serve as early warning and help monitor and implement international agreements. Some are organized around specific issues such as human rights, the environment or health.”