Business Environment Internal Control Factors: Key Risk Indicators

2013 ◽  
pp. 141-154
Keyword(s):  
Internal Control ◽  
Business Environment ◽  
Risk Indicators ◽  
Control Factors

The Role of Controlling in the Business Environment

2021 ◽  
pp. 216-228
Author(s):  
Ibrahim Oba ◽  
Mirela Anca Postole
Keyword(s):  
Corporate Governance ◽  
Significant Role ◽  
Internal Control ◽  
Environmental Changes ◽  
Business Environment ◽  
Digital Economy

Environmental changes and especially the development of the digital economy have posed real existential questions to businesses, provoked strategic reflection, and made the emergence of controlling efficient. The objective of this chapter was to explore the role of controlling in the business environment and generalize a reflection on strategy and controlling in the life of companies. The results show that controlling has a significant role in enhancing the corporate governance pillars in companies, and the successes of corporate governance requires compliance with all elements of internal control.

The importance of information service offerings of collaborative CRMs on decision-making in B2B marketing

2019 ◽  
Vol 35 (3) ◽  
pp. 470-482 ◽  
Author(s):  
José Ramón Saura ◽  
Pedro Palos-Sanchez ◽  
Alicia Blanco-González
Keyword(s):  
Decision Making ◽  
Internal Control ◽  
Information Service ◽  
Equation Modeling ◽  
External Control ◽  
Data Set ◽  
Content Type ◽  
B2b Marketing ◽  
Control Factors ◽  
The Relationship

Purpose The importance of information service offerings is directly linked to decision-making processes for buying and selling in business-to-business (B2B) companies. B2B companies intend to offer information that helps other companies choose a product or service. This paper aims to identify the relationship between the types of information offered by a B2B company in its B2B marketing strategy and the decision-making of the companies which buy products and services. Design/methodology/approach For this purpose, a data set has been consulted that contains 439 observations that are the result of transactions using customer relationship managements (CRMs) of B2B-type companies. A total of 9 different products were consulted from 20 B2B vendors that manage their transactions with CRM software for B2B operations. A total of 439 different transactions were recorded by these vendors during 2018 (n = 439) with their information service offerings strategies. The results were analyzed with the partial least squares structural equation modeling. Findings The results showed that the significance of the relationship between internal control factors and external control factors (H4) is the strongest one when using information services offerings strategies in a B2B environment. The results of this research can help B2B companies to improve their decision-making strategies and to define the structure of the information offered in their B2B marketing plans. Originality/value This research makes a contribution to an existing gap, which is to identify what the most important information is for purchasing companies in B2B environments and the relationship with this information, so that B2B purchasers can make good decisions thanks to the information service offerings strategy of the selling companies using CRMs.

The Updated COSO Internal Control—Integrated Framework: Recommendations and Opportunities for Future Research

2012 ◽  
Vol 26 (2) ◽  
pp. 189-213 ◽  
Author(s):  
Diane J. Janvrin ◽  
Elizabeth A. Payne ◽  
Paul Byrnes ◽  
Gary P. Schneider ◽  
Mary B. Curtis
Keyword(s):  
Information System ◽  
Internal Control ◽  
Accounting Information ◽  
Business Environment ◽  
Future Research ◽  
Environmental Scanning ◽  
Accounting Information System ◽  
Integrated Framework ◽  
Shareholder Interest ◽  
New Framework

ABSTRACT To address the changing business environment and increased shareholder interest, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) recently issued an exposure draft updating its 1992 Internal Control—Integrated Framework. We review the updated Framework and discuss the comments we (as the Environmental Scanning Committee of the American Accounting Association's Information Systems Section) offered COSO regarding how to improve the Framework. In addition, we identify research opportunities for accounting information system scholars related to the new Framework.

scholarly journals The role and importance of internal control and internal audit in the prevention and identification of fraudulent actions in banks

Bankarstvo ◽  
2021 ◽  
Vol 50 (1) ◽  
pp. 66-89
Author(s):  
Snežana Knežević ◽  
Aleksandar Živković ◽  
Stefan Milojević
Keyword(s):  
Economic Development ◽  
Financial Institutions ◽  
Internal Control ◽  
Financial Services ◽  
Internal Audit ◽  
Financial Sector ◽  
Business Environment ◽  
Efficient Management ◽  
Range Of Functions

Modern banks have a specific role and a whole range of functions of paramount importance, as financial institutions for granting loans, creating loans, mobilizing savings and economic development. In the financial sector, there is a growing number of people who are using increasingly innovative and creative ways of targeting all perceived weaknesses in banks and credit approval systems. The persons committing fraud have become increasingly sophisticated, which means that measures to prevent fraud must be constantly developed to ensure that they are able to deal with the threat. The fight against fraud is crucial for financial services institutions. This article aims not only to briefly describe the role of internal control and internal audit in detecting possible fraud in banks, as profit-oriented organizations in today's complex and highly changing business environment, but also to point out the advantages they have in the more efficient management of bank activities.

scholarly journals Neutralizing the Threats of the Organization Involvement in Corruption Offenses: Innovations and Technologies

2019 ◽  
Vol 8 (4) ◽  
pp. 8906-8911
Keyword(s):  
Control System ◽  
Internal Control ◽  
Business Environment ◽  
Corporate Sector ◽  
Expert Survey ◽  
Corporate Policies ◽  
Top Managers ◽  
Compliance Programs ◽  
Internal Control System ◽  
Commercial Organizations

The goal of the article is to study the initiatives existing in Russia and abroad for neutralizing the threats of the organization involvement in corruption offenses, which include business, among other things, to analyze anti-corruption practices of Russian companies, as well as to offer recommendations for the application of anti-corruption efforts in the Russian corporate sector. The relevance of anti-corruption corporate measures has been substantiated in the article, and the international practice of their application has been analyzed. The nature and main characteristics of the anti-corruption policy of commercial organizations have been determined based on an expert survey. At the end, the conclusions have been drawn about the need for systemic transformations at the level of the business environment: adoption of internal corporate policies and compliance programs at the company level, implementation of an internal control system, and formation of a culture of rejecting corruption within the company at the level of top managers and other employees.

The Influence of Internal Control Factors on the Perfomance Effectiveness of the Garment, Agricultural and Chemical Enterprises Listed on Vietnam’s Stock Market

2020 ◽  
Vol 36 (1) ◽  
Author(s):  
Do Huy Thuong ◽  
Nguyen Thi Phuong Hong
Keyword(s):  
Risk Assessment ◽  
Stock Market ◽  
Internal Control ◽  
Research Result ◽  
Control Environment ◽  
Monitoring And Control ◽  
Performance Effectiveness ◽  
Control Factors ◽  
Information And Communication ◽  
And Control

The research focuses on analysing the impacts of internal control factors on the performance effectiveness of the garment, agricultural and chemical enterprises listed on Vietnam’s stock market. The research result shows that of the factors of Risk Assessment, Control Activities, Information and Communication, Monitoring and Control Environment, the factor of Information and Communication has the strongest effect on the performance effectiveness of the enterprises. Next to it is Risk Assessment, Control Environment and Monitoring. The factor of Control Activities has the least influence on the performance effectiveness of the enterprises.

Determinants of Timely Adoption of the 2013 COSO Integrated Framework

2019 ◽  
pp. 0000-0000
Author(s):  
Noel D Addy ◽  
Nathan Robert Berglund
Keyword(s):  
Social Networks ◽  
Internal Control ◽  
Business Environment ◽  
Interlocking Directorates ◽  
Integrated Framework ◽  
Business Operations ◽  
Operational Characteristics ◽  
Increased Risk ◽  
Control Failure ◽  
Phase Out

In 2013, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released an updated version of its widely utilized Internal Control - Integrated Framework. The update responded to two decades of changes in the business environment and increased focus on technology in business operations and reporting. While the old framework is no longer supported by COSO (effective December 15, 2014), some SEC filers continue to utilize the old framework past its phase-out date. This places such companies at increased risk for internal control failure compared to other companies and SEC scrutiny. We examine determinants of delay in adopting the 2013 COSO framework update. We find evidence that reported weaknesses, auditing firms, and interlocking directorates are significantly related to delayed adoption. Our study contributes to literature on how social networks and operational characteristics affect internal control governance decisions.

Fundamental approaches to the preparation of a risk-based internal audit work plan

2021 ◽  
pp. 61-72
Author(s):  
E.N. Kalamanova ◽  
N.A. Prodanova
Keyword(s):  
Professional Practice ◽  
Internal Control ◽  
Business Processes ◽  
Internal Audit ◽  
Business Environment ◽  
Regulatory Framework ◽  
International Standards ◽  
Internal Audit Function ◽  
Rapid Changes ◽  
Governance Practices

The article discusses the fundamental approaches to planning the work of internal audit based on a risk-based approach, taking into account the requirements of international auditing standards, the updated concept of three lines of defense, recommendations for the organization of risk management and internal control. The problems of the article are relevant in the conditions of rapid changes in the business environment, the emergence of new risks, the increasing complexity of business processes of organizations and the regulatory framework, the development of corporate governance practices, leading to the need for rapid adaptation of the internal audit function to the changes taking place. The material of the article is presented taking into account the current regulatory framework, international standards of auditing, International foundations of professional practice of internal audit.

System Modeling and Simulation for High-End Equipment Manufacturing Industry Technical Innovation Influence Factors

2013 ◽  
Vol 765-767 ◽  
pp. 261-265
Author(s):  
Zhao Ji Yu ◽  
Zhong Jin
Keyword(s):  
Internal Control ◽  
Manufacturing Industry ◽  
System Modeling ◽  
Influence Factors ◽  
Three Dimensions ◽  
Technical Innovation ◽  
Control Factors ◽  
Equipment Manufacturing ◽  
Equipment Manufacturing Industry ◽  
Innovation Ability

Analysis the influence factors of high-end equipment manufacturing industry technical innovation, divide them into three dimensions which are the internal control factors, internal and external coordination factors and external development factors, establish a 18-indicator-index system, and use system dynamics method to modeling and dynamic simulation, in order to provide theoretical guidance for improving the high-end equipment manufacturing industry technical innovation ability, and promote the development of high-end equipment manufacturing industry.

scholarly journals Conceptual Comparison of Internal Audit and Internal Control in the Marketing Environment

2021 ◽  
Vol 13 (12) ◽  
pp. 6691
Author(s):  
Václav Kupec ◽  
Přemysl Písař ◽  
Michal Lukáč ◽  
Gabriela Pajtinková Bartáková
Keyword(s):  
Internal Control ◽  
Small And Medium Enterprises ◽  
Internal Audit ◽  
Business Environment ◽  
Theory And Practice ◽  
Computer Assisted ◽  
Marketing Environment ◽  
International Environment ◽  
Medium Enterprises ◽  
And Control

There is a conceptual problem in the adequate application of internal audit and internal control in the real business of the marketing environment. Although both of these managerial tools are theoretically defined, they are practically interchangeable in business. This limits their application. It is therefore necessary to focus on both concepts and make the theory and practice more precise or remove any overlaps. The aim of this paper is therefore a theoretical and practical comparison of internal audit and internal control concepts in the marketing environment. To fulfil this purpose and verify the hypotheses, this paper uses computer assisted self interviewing. The research was conducted in Q1 2021 with a sample of 3052 small and medium enterprises from the international environment of the EU 27. The research conclusions show a strong correlation of the theoretical perception of the terms of internal audit and internal control. At the same time, they show a weak correlation with the audit and control tools used in practice. They also define audit as planned independent assurance (soft consultation) and control as operational managerial assurance (hard comparison). This defines and clarifies scientific theories for managerial practice, thus enhancing and increasing the efficiency of internal audits and internal control in the business environment.

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