Internal Control Presentation

Card Set Information

Author:
miv
ID:
73382
Filename:
Internal Control Presentation
Updated:
2011-03-16 22:15:13
Tags:
KCC Internal Control
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Description:
KCC Internal Control
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  1. RISK ASSESSMENT
    Is another component of internal control.

    Identification and analysis of risks that can impede the achievement of organizational goals.
  2. FIGURE
    In order to develop appropriate internal control activities that will not waste an organization's resources, its important to identify risks within an organization's activities.
  3. PANDA RISKS COMPUTER
    We have identified a few risks in Panda's operations:

    • Breach, failure or Panda's integrated computer system.
    • Also, errors or inappropriate data inputted into the system.
  4. PANDA RISKS THEFT
    • Employees who give away free orange chicken or steal from the register.
    • Hold ups.
    • Misstating inventory count.
  5. PANDA RISKS STAFF
    • Poor staffing is a risk an organization must consider.
    • Even with the best computer systems, if your staff can't get it to work properly, it's practically useless.
  6. PANDA RISKS SAFETY
    Internal controls must address compliance with laws and regulations. Food safety is a risk of utmost concern to Panda.
  7. CONCLUSION
    Panda has certainly identified these risks. Jen will make this evident as she presents their Control Activities.

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