Internal Auditing Essays (Examples)
Study Document
Cyber Crime IT Security Auditing
… security audits entail and how such audits enhance organizational IT security will be dealt with. According to research on the subject, IT security auditing constitutes a significant step in the safeguarding of corporate data against cybercrime, data breaches, and fraud. It must be performed from time to … and critical infrastructures and operations it supports. Despite developments in information security, numerous information systems continue to display susceptibility to both external and internal breaches (Suduc, Bîzoi & Filip, 2010). internal information security auditing enhances the likelihood of implementation of suitable security measures for averting such breaches and reducing their adverse impacts.
Security risks
Two classes of … and information flow- reliant multilevel security, access control lists, cryptographic protocol, and public-key cryptography, several information systems continue to be at risk of internal as well as external attacks. Security setups are a time-consuming process and do not play any part in helpful……
References
References
Almatari, O. and Helal, I., and Mazen, S., and El Hennawy, S. (2018). \\\\\\"Cybersecurity Tools for IS Auditing.\\\\\\" The 6th International Conference on Enterprise Systems, At Limassol, Cyprus 10.1109/ES.2018.00040.
Davis, W. S., & Yen, D. C. (Eds.). (2019). The information system consultant\\\\\\'s handbook: Systems analysis and design. CRC press.
Diamantopoulou, V., Tsohou, A., & Karyda, M. (2019). From ISO/IEC 27002: 2013 Information Security Controls to Personal Data Protection Controls: Guidelines for GDPR Compliance. In Computer Security (pp. 238-257). Springer, Cham.
Khan, M. (2017). Computer security in the human life. International Journal of Computer Science and Engineering (IJCSE), 6(1), 35-42.
Lenghel, R. D., & Vlad, M. P. (2017). INFORMATION SYSTEMS AUDITING. Quaestus, (11), 178.
Manaseer, S., & Alawneh, A. (2019). ON CYBERSECURITY AUDITING AWARENESS: CASE OF INFORMATION AND COMMUNICATION TECHNOLOGY SECTOR. International Journal of Computer Science and Information Security (IJCSIS), 17(7).
Suduc, A. M., Bîzoi, M., & Filip, F. G. (2010). Audit for information systems security. Informatica Economica, 14(1), 43.
Study Document
Enterprise Risk Management In Wells Fargo During The Pandemic
… seek to avoid risk but rather embraces and takes risks. It does so knowing that it has strong protections in place, including: an internal rule that poses that all capital at stake must be capital that the firm can stand to lose (i.e., no over-leveraging or playing ……
References
References
Beasley, M. (2020). How to Leverage ERM Principles to Better Respond to COVID-19-Related Risks. ERM Professional Insights.
Derysh, I. (2020). Watchdog questions why Wells Fargo reported giving only one large PPP loan to a Black-owned business. Retrieved from https://www.salon.com/2020/07/22/watchdog-questions-why-wells-fargo-reported-giving-only-one-large-ppp-loan-to-a-black-owned-business/
English, C. (2020). Wells Fargo Forced to Cut Its Dividend After Fed Stress Test. Here’s What Other Banks Did. Retrieved from https://www.barrons.com/articles/wells-fargo-forced-to-cut-its-dividend-after-fed-stress-test-51593467664
Hall, J. (2007). Internal Auditing and ERM: Fitting in and Adding Value. Retrieved from https://global.theiia.org/about/about-the-iia/Public Documents/Sawyer_Award_2007.pdf
Kaplan, R. & Mikes, A. (2012). Managing risks: A new framework. Harvard Business Review, 3.
Lewis, M. (2010). The Big Short. NY: W. W. Norton.
Lundqvist, S. (2014). Abandoning Silos for Integration: Implementing Enterprise Risk Management and Risk Governance. Lund University.
Morgenson, G. (2020). More Wells Fargo customers say the bank decided to pause their mortgage payments without asking. Retrieved from https://www.nbcnews.com/business/personal-finance/more-wells-fargo-customers-say-bank-decided-pause-their-mortgage-n1234610
Study Document
White Collar Criminal
… destroying it. The stolen amount would then be charged…[break]…investigating any red flags. Records should be submitted to an independent external auditor, as well. auditing is one of the best ways to self-regulate and firms provide a degree of security for themselves when they focus on making sure … will continue to happen in the future. Failure to report is the problem that they suffer from through and through: they lack the internal controls for preventing fraud from occurring and they lack the audit team to catch bad reporting from lower down in the company. They ……
References
References
Association of Certified Fraud Examiners. (2010). Who is Most Likely to Commit Fraud at Your Company? Retrieved from https://www.acfe.com/press-release.aspx?id=1677
Friedrichs, D. (2009). Trusted Criminals: White Collar Crime In Contemporary Society. Cengage Learning.
US Attorney’s Office. (2019). Attorney Convicted of Embezzling Over $1.5 Million from Virginia Senator, Canadian Business, and Autism Organization. Retrieved from https://www.justice.gov/usao-edva/pr/attorney-convicted-embezzling-over-15-million-virginia-senator-canadian-business-and-0
Study Document
Walt Disney
… expansion in different cultures should be consistent with measures that will allow it to achieve that ROI. The company thus needs to conduct internal analysis to see how well its resources are being inbounded, how well operations are performing in processing resources into goods or services, how ……
References
References
Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2010). Strategic management and business policy. Upper Saddle River, NJ: Prentice Hall.
Study Document
Elon Musk And Power At Tesla
...Internal auditing Tesla is a company that has had at least a 5 year relationship with its CEO Elon Musk. Up until recently Musk was also Chairman of the Board. He was removed from his role as Chairman as part of a settlement with the Securities and Exchange Commission (SEC). The settlement resulted from charges filed by the SEC relating to securities fraud when Musk’s public Tweet on Twitter about taking the company private and that he had “funding secured.” The statement was shown to be a lie (Gaydos, 2018). Musk settled with the SEC and paid a hefty fine and Robyn Denholm replace Musk as Chairman of the Board. Denholm had been a Board member for five years up to that point (Porter, 2018). Thus, up until Musk’s run-in with the SEC in 2018, he had been both CEO and Chairman of the Board—which can serve as a conflict of interest,……
References
References
Abels, P. B., & Martelli, J. T. (2013). CEO duality: how many hats are too many?. Corporate Governance: The international journal of business in society, 13(2), 135-147.
Dickins, D. (2010). CEO and COB duality: Does it matter. Internal Auditing, 25(4), 35-38.
Gaydos, R. (2018). Elon Musk may have violated Tesla’s conduct and ethics code after smoking up in podcast interview: report. Retrieved from https://www.foxnews.com/tech/elon-musk-may-have-violated-teslas-conduct-and-ethics-code-after-smoking-up-in-podcast-interview-report
Porter, J. (2018). Tesla has found a new chairperson to replace Elon Musk. Retrieved from https://www.theverge.com/2018/11/8/18074800/tesla-new-chair-2018-robyn-denholm-elon-musk
Yang, T., & Zhao, S. (2014). CEO duality and firm performance: Evidence from an exogenous shock to the competitive environment. Journal of Banking & Finance, 49, 534-552.
Study Document
Bass Pro Management
… 2018).
How does your selected organization assess your workforce capability and capacity needs?
The company assesses the workforce capabilities and capacity needs through internal auditing, sales performance, customer feedback, and employee surveying. Managers are tasked with examining areas where the company comes into barriers in terms of performance ……
References
References
Babin, B. J., & Attaway, J. S. (2000). Atmospheric affect as a tool for creating value and gaining share of customer. Journal of Business research, 49(2), 91-99.
Bass Pro Shops Employee Reviews. (2017). For manager. Retrieved from https://www.indeed.com/cmp/Bass-Pro-Shops/reviews?fjobtitle=Manager&fcountry=ALL
De Vries, M.F.K., 1998. Charisma in action: The transformational abilities of Virgin's Richard Branson and ABB's Percy Barnevik. Organizational Dynamics, 26(3), pp.7-21.
Klein, H. J., & Polin, B. (2012). Are organizations on board with best practices onboarding. The Oxford handbook of organizational socialization, 267-287.
Life at Bass Pro Shops. (2018). Careers. Retrieved from https://www.basspro.com/shop/en/careers-life
Orpen, C. (1997). The effects of formal mentoring on employee work motivation, organizational commitment and job performance. The Learning Organization, 4(2), 53-60.
Randolph Thomas, H., & Horman, M. J. (2006). Fundamental principles of workforce management. Journal of Construction Engineering and Management, 132(1), 97-104.
Study Document
Fraud And Abuse In Healthcare
… Leaders set the tone for all ethical decisions made within an organization. While using fraud and abuse detection software and conducting regular third-party internal audits can help reduce instances, severity, and frequency of fraud and abuse, the ideal way of addressing the issue if by creating an ……
References
References
FBI (2019). Healthcare fraud news. Retrieved from https://www.fbi.gov/investigate/white-collar-crime/health-care-fraud/health-care-fraud-news
“Fraud and Abuse: What’s the Difference?” (2007). The Rheumatologist. 1 Nov, 2007. Retrieved from https://www.the-rheumatologist.org/article/fraud-and-abuse-whats-the-difference/
Magellan Healthcare (2019). Fraud, waste, and abuse. Retrieved from https://www.magellanprovider.com/education/fraud-waste-and-abuse/fraud-waste-abuse-faqs.aspx
Study Document
Agency Theory
...Internal auditing Introduction
Agency theory is a theory explicating the relationship between the shareholders, who act as the principals, and the managers, who act as the agents. Within this relationship, the principal either employs or delegates an agent to carry out work and take actions in the best interests of the principal (Scott and O’Brien, 2003).
Imperatively, when the decision-making power and authority is delegated to another party, this can result in a loss of efficiency and subsequently increased costs. For instance, if the owner of a company partakes in the delegating of decision-making power to a manager, the agent in this case, it is conceivable that the manager will not work or operate as hard and with determination as the owner would, bearing in mind that the manager does not have any direct shares in the financial results of the company (Tearney and Dodd, 2009).
As a result, this could give……
References
References
Ballwieser, W., Bamberg, G., Beckmann, M. J., Bester, H., Blickle, M., Ewert, R., ... & Gaynor, M. (2012). Agency theory, information, and incentives. Springer Science & Business Media.
Bou?ková, M. (2015). Management accounting and agency theory. Procedia Economics and Finance, 25, 5-13.
Eisenhardt, K. M. (1989). Agency theory: An assessment and review. Academy of management review, 14(1), 57-74.
Healy, P. M. (2005). Financial Reporting Problems at Molex, Inc.(A). Harvard Business School.
Larcker, D. F., & Tayan, B. (2007). Executive Compensation at Nabors Industries: Too Much, Too Little, or Just Right?. Rock Center for Corporate Governance at Stanford University Case Teaching No. CG-05.
Mitnick, B. M. (2015). Agency theory. Wiley encyclopedia of management, 1-6.
Scott, W. R., & O\\\\\\'Brien, P. C. (2003). Financial accounting theory (Vol. 3). Toronto: Prentice Hall.
Tearney, M. G., & Dodd, J. (2009). Accounting theory. H. I. Wolk (Ed.). New York: Sage.
Study Document
Banking Industry Crimes
… particular case, affidavits should be presented clearly indicating that the victims did not initiate the transactions in question. In seeking to ensure that internal controls are improved so as to prevent an occurrence of the very same fraudulent activity, there are a number of suggestions that I ……
References
References
Albrecht, W.S., Albrecht, C.C., Albrecht, C.O. & Zimbelman, M.F. (2008). Fraud Examination (3rd ed.). Mason, OH: Cengage Learning.
Dionne, B. (2020). Regions Bank Teller Accused of Stealing Customer Identities Faces Felony Charges. Retrieved https://www.wbrc.com/2020/01/30/regions-bank-teller-accused-stealing-customer-identities-facing-felony-charges/
Golden, T.W., Skalak, S.L. & Clayton, M.M. (2006). A Guide to Forensic Accounting Investigation. Hoboken, NJ: John Wiley & Sons.
Krancher, M., Riley, R. & Wells, T.J. (2010). Forensic Accounting and Fraud Examination. Hoboken, NJ: John Wiley & Sons.
Singleton, T.W., Singleton, A.J. & Bologna, R.J. (2006). Fraud Auditing and Forensic Accounting (3rd ed.). Hoboken, NJ: John Wiley & Sons.
Zagaris, B. (2010). International White Collar Crime: Cases and Materials. New York, NY: Cambridge University Press.
Study Document
Understanding The Factors Affecting The Success Of Credit Risk In
… relation to existent literature, scholars have determined that the factors affecting the success of credit risk can be categorized into two groups including internal factors (micro-economic) and external factors (macro-economic). In accordance to Garr (2013), the different factors that influence credit risk can be classified into macroeconomic ……
References
References
Bhattarai, Y. R. (2016). Effect of credit risk on the performance of Nepalese commercial banks. NRB Economic Review, 28(1), 41-64.
Das, A. and Ghosh, S. (2007). Determinants of Credit Risk in Indian State-owned Banks: An Empirical Investigation. Economic Issues, 12(2): 48-66.
Derelio?lu, G., & Gürgen, F. (2011). Knowledge discovery using neural approach for SME’s credit risk analysis problem in Turkey. Expert Systems with Applications, 38(8), 9313-9318
Garr, D. K. (2013). Determinants of credit risk in the banking industry of Ghana. Developing Country Studies, 3(11), 64-77.
Gizaw, M., Kebede, M., & Selvaraj, S. (2015). The impact of credit risk on profitability performance of commercial banks in Ethiopia. African Journal of Business Management, 9(2), 59-66.
Johnson, B., & Christensen, L. (2008). Educational research: Quantitative, qualitative, and mixed approaches. New York: Sage.
Kithinji, A. M. (2010). Credit risk management and profitability of commercial banks in Kenya. (Doctoral dissertation, University of Nairobi).
Limam, I. (2001). Measuring technical efficiency of Kuwaiti banks. Kuwait: Arab Planning Institute.
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