scholarly journals An Internal Control Evaluation Tool For The Construction Industry

2011 ◽  
Vol 7 (12) ◽  
Author(s):  
Lou X. Orchard ◽  
Scott L. Butterfield
Keyword(s):  
Control System ◽  
Construction Industry ◽  
Internal Control ◽  
Preliminary Evaluation ◽  
Evaluation Tool ◽  
Construction Company ◽  
Significant Control ◽  
Internal Control System ◽  
Independent Auditors ◽  
Control Evaluation

<p class="MsoNormal" style="text-align: justify; margin: 0in 40.5pt 0pt 0.5in;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">This paper presents a Control Objectives Reconciliation, a tool that independent auditors of clients in the construction industry should find useful in performing a preliminary evaluation of the client&rsquo;s internal control system.<span style="mso-spacerun: yes;">&nbsp; </span>Auditors are advised to compare their client&rsquo;s control objectives with those presented in Exhibits 1 through 7.<span style="mso-spacerun: yes;">&nbsp; </span>Where the client&rsquo;s system appears to omit significant control objectives, the auditor should consider the risks brought on or magnified by the omission during the preliminary evaluation of the client&rsquo;s internal control system.<span style="mso-spacerun: yes;">&nbsp; </span>The Control Objectives Reconciliation is also potentially useful to Construction Company CFOs or Controllers who may be concerned about the adequacy of their company&rsquo;s internal control system.<span style="mso-spacerun: yes;">&nbsp; </span>The Reconciliation also highlights for Construction Company CFOs or Controllers those internal controls deemed to be important to their external, independent auditors.</span></span></p>

scholarly journals Internal audit in the period of economic changes and its role in evaluation of the entity’s internal control. Theoretical characteristics and practical approaches

2021 ◽  
pp. 19-28
Author(s):  
Cristina Vasile Dolghi ◽  
Elena Gheorghe Petreanu
Keyword(s):  
Control System ◽  
Internal Control ◽  
Assessment Tool ◽  
Internal Audit ◽  
Evaluation Process ◽  
Primary Role ◽  
Control Environment ◽  
Internal Control System ◽  
Control Evaluation ◽  
Method Of Evaluation

Internal control delivers guarantee and trust for investors, clients, suppliers, but also for the entity’s employees and other interested parties. As a result, an effective internal control system has a significant impact on the credibility of a modern entity and its activities, which is ensured by the entity’s management, through an appropriate process of evaluating the effectiveness of internal control. On the basis of those exposed, we sustain the opinion shared by many experts in the field, that the primary role in evaluating the internal control system is attributed to internal audit, because in line with current development trends, it supports the entity in maintaining effective controls by evaluating efficiency and effectiveness. As well as by promoting biased business actions. In this connection, the authors approach the study of the basic aspects of the internal control evaluation process in the light of the identification of the method, establishing and interpreting the indicators used in the evaluation, as well as determining the criteria and practical tools for evaluation. As a method of evaluation of internal control the systematic method of authors is proposed, which involves the evaluation of each component of it. This approach permits internal auditors to make an integrated consideration of the effectiveness of internal control in the entity of the internal control system in the good functioning of the entity, which contributes to the fulfillment of its strategic objectives. In addition, the research carried out highlights the performance of the assessment tool – the corresponding questionnaire, which was developed to evaluate the control environment of the entity and applied in the activity of public interest entities in the Republic of Moldova. This study offers the possibility to recognize the deficiencies within the control environment established at the entity and offers the possibility to the management of the entity to improve its functioning mechanism.

scholarly journals Audit of economic security as an effective tool to prevent corruption in a construction company

2018 ◽  
Vol 193 ◽  
pp. 05067 ◽  
Author(s):  
Larisa Domracheva ◽  
Elena Karanina ◽  
Alexander Bakhtimov ◽  
Maxim Kochetkov
Keyword(s):  
Construction Industry ◽  
Internal Control ◽  
Economic Security ◽  
Financial Control ◽  
Main Concept ◽  
Effective Work ◽  
Construction Company ◽  
External Threats ◽  
Construction Organizations ◽  
Internal Control System

An audit of economic security helps to prevent corruption, as well as an assessment of awareness in the struggle against corruption. Audit can promote the implementation of ways to protect the economy of the construction industry against corruption. The authors pay special attention to the problem of the construction industry in Russia. Practical questions of the audit of economic security, which are considered in the article, solve the problems of financial control in the system of anti-corruption policy. The purpose of this study is to develop an audit mechanism for economic security, as a system to prevent internal and external threats and risks. The main concept of the research is aimed at the formation of an audit of economic security in the construction industry. Effective work to prevent corruption in the relations of construction organizations is ensured by the formation of an internal control system to prevent the causes of corruption in the construction sector. It is necessary to take into account the fact that analysis of risk factors at the level of the operating segment in the construction industry can contribute to the development of this area.

scholarly journals Internal Controls For The Revenue Cycle: A Checklist For The Consumer Products Industry

2010 ◽  
Vol 9 (8) ◽  
Author(s):  
Tim Heinze ◽  
Tim Kizirian ◽  
John (Skip) Lees ◽  
Kent Sandoe
Keyword(s):  
Control System ◽  
Internal Control ◽  
Distribution Channel ◽  
Consumer Products ◽  
Internal Controls ◽  
Business Operations ◽  
Economic Climate ◽  
Internal Control System ◽  
Independent Auditors ◽  
Revenue Cycle

In today’s difficult economic climate, business managers must carefully consider all aspects of business operations to minimize waste and increase efficiency.  The revenue cycle continues to be the primary area of fraud and abuse requiring strong, comprehensive internal controls (AICPA 2002).  Internal controls in the revenue arena are now more important than ever. The current paper provides a control review checklist for the revenue cycle that will aid managers and independent auditors in the consumer products industry. The checklist is applicable for firms at various levels of the distribution channel and can be used as a general benchmark to perform preliminary evaluations of a company’s internal control system. Auditors can compare their company’s control objectives with the objectives that are presented. During preliminary investigations of the company’s internal control system, auditors should review whether important control objectives have been omitted and whether the omission incurs or heightens risk. The control review checklist can also be used by CFOs or Controllers in the Consumer Products industry in reviewing whether their company’s internal control systems are adequate.  The checklist provides CFOs or Controllers internal controls that external, independent auditors consider to be important.

scholarly journals Issues of Evaluating the Effectiveness of the Internal Control System in Audits

2021 ◽  
Vol 8 (9) ◽  
pp. 384
Author(s):  
Anvar Ziyadullaevich Avlokulov ◽  
Nargiza Shukhratovna Abdieva ◽  
Bobur Nodirovich Sayfutdinov
Keyword(s):  
Control System ◽  
Internal Control ◽  
Internal Control System ◽  
Control Evaluation

This article describes the areas of evaluation of the effectiveness of the internal control system in audits. As a result of the research, 5 stages of evaluating the effectiveness of the internal control system are proposed. The author has also developed internal control evaluation steps.

scholarly journals Revenue Process Internal Control For Manufacturers: An Evaluation Tool For Independent Auditors And Managers

2014 ◽  
Vol 12 (2) ◽  
pp. 137
Author(s):  
Lou X. Orchard ◽  
Matthew L. Hoag
Keyword(s):  
Financial Reporting ◽  
Internal Control ◽  
Manufacturing Sector ◽  
Preliminary Evaluation ◽  
Effective Management ◽  
Evaluation Tool ◽  
Risk Area ◽  
Long Run ◽  
Public Company ◽  
Independent Auditors

Effective management of the revenue process is critical to the success and long-run viability of any business. The revenue process also entails an elevated risk area for financial reporting fraud (AICPA 2002; Beasley et al., 2010). Accordingly, this important process demands heightened attention from independent auditors and company managers, and internal control activities must be considered as part of the ongoing evaluations of this important area. This paper presents a tool for evaluating internal control objectives and activities pertinent to the revenue process for companies operating in the manufacturing sector. This evaluation tool may be used by independent auditors as a general benchmark in performing a preliminary evaluation of a manufacturing clients internal control over the revenue process. Independent auditors who will find the tool most useful will primarily be those wishing to comply with U.S. Generally Accepted Auditing Standards (GAAS), including those performing integrated audit engagements in accordance with Public Company Accounting Oversight Board (PCAOB) Auditing Standard No. 5 and the new requirements set forth in the Committee of Sponsoring Organizations of the Treadway Commissions (COSO) Internal Control Integrated Framework. In instances where important internal control activities have been omitted from the clients system, the auditor should consider whether the omission increases the risk of material misstatement. This tool may also be used by managers to evaluate the adequacy of their companys internal control activities within the revenue process.

Pengaruh Kualitas Sumber Daya Manusia, Pemanfaatan Teknologi Informasi, Dan Sistem Pengendalian Intern Terhadap Ketepatwaktuan Pelaporan Keuangan Pemerintah Desa

2018 ◽  
Vol 26 (2) ◽  
pp. 131-143
Author(s):  
Marlinawati Marlinawati ◽  
Dewi Kusuma Wardani
Keyword(s):  
Information Technology ◽  
Control System ◽  
Human Resources ◽  
Financial Reporting ◽  
Internal Control ◽  
Positive Influence ◽  
Internal Control System ◽  
Speed Up ◽  
Village Government

The purpose of this research is to know the influence between the Quality of Human Resources, Utilization of Information Technology and Internal Control System Against Timeliness of Village Government Financial Reporting at Gunungkidul Regency. This research is causative research. The population is the village government in Gunungkidul Regency, especially in Gedangsari subdistrict. Criteria of respondents in the study were to village and village apparatus. We use questionnaire to collect data. We use multiple regression with SPSS program version 16.0 to analyze data. We find that quality of human resources and internal control system have a positive influence on the timeliness of village government financial reporting. On the other hand, utilization of information technology does not influence the timeliness of village government financial reporting. These imply that the quality of human resources and internal control system can speed up the preparation of village government financial reporting.

Pengaruh Sistem Pengendalian Internal Pemerintah dan Kompetensi Pegawai Terhadap Kinerja Instansi Pemerintah Kabupaten Karimun

2020 ◽  
Vol 5 (1) ◽  
pp. 101-106
Author(s):  
Doni Putra Utama
Keyword(s):  
Control System ◽  
Control Systems ◽  
Internal Control ◽  
Statistical Tests ◽  
Government Agencies ◽  
Government Performance ◽  
Significant Positive Effect ◽  
Internal Control System ◽  
Employee Competencies ◽  
Positive Effect

This research is a causality study with the title "Effect of Government Internal Control Systems and Employee Competence on the Performance of Government Agencies in Karimun Regency." The purpose of this study was to determine the effect of the implementation of the Government's Internal Control System on the performance of Karimun Regency government agencies and to determine the effect of employee competence on the performance of Karimun Regency government agencies. Data collection using a questionnaire where the questionnaire contained questions about the Government's Internal Control System, employee competencies and agency performance. Data were tested using multiple linear regression statistical tests. Based on the results of the study, it can be concluded that the governmental internal control system has a significant positive effect on Government Agency Performance with the results of statistical tests that show a sig value of 0.016 <0.05 (alpha 5%). Employee Competency has a significant positive effect on Government Performance with the results of statistical tests showing a sig value of 0,000.

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