The internal audit is not mandatory but the organisation gets the internal audit done with a view to evaluate the effectiveness of internal control, the soundness of financial system and effectiveness of business processes. This provides management an assurance about the control process in the organisation and it aids in early detection of inefficiencies and fraud. It also helps the statutory auditors in getting the audit done
In the revenue cycle system of Maple Component Corporation, there are some controls in the system which are effective in preventing the occurrence of the event of uncollectible sales revenues, shipping errors, billing errors and theft of checks or cash in the company. Thus, a revenue cycle system with effective control is important to avoid the losses of sales and assets in the company and enhance customer satisfaction and company reputation. One of the effectiveness found in the revenue cycle system of the company is proper authorisation of transaction in the credit department. In the description of key business processes, the credit clerk checks the credit copy received from the sale department against the approved list of customer, credit
Located at free industrial zone Chemor Perak with total of 6000 employee working in Finisar Malaysia It all began when Finisar Corporation decided to transfer most of its manufacturing processes from a contractor to our very own facility to enable greater control of internal quality, intellectual property and cost-effectiveness. Finisar Malaysia Sdn. Bhd. was registered as a legal entity in 2001 and started operations with a pioneer batch of 47 employees. In fiscal year 2007, Finisar Malaysia had become the largest transceiver manufacturing facility in the world and a major contributing factor to the overall success of the company.
There are principles that the corporate governance is based on which are to conduct the business is an appropriate manner, to be transparent when it comes to information about the business finances, to run the business fairly. The controllers of the business must not mix personal matters with corporate deals. It promotes a behaviour that is ethical. Corporate governance gives a company a good public image and it can help a company to avoid risks and have proper risk plan if it is executed accordingly. It can also help a company to avoid frauds or any other criminal activities.
In 1971, the Kwok family entered the hotel industry, cast RM100 million to set up the first Shangri-La Hotel in Singapore. After establishing its stronghold in the respective capitals and large cities, extending from Kuala Lumpur, Bangkok, Hong Kong, Fiji, etc. all the way to mainland China, and has become Asia's leading hotel group. Today, Kuok year of the creation of the Shangri-La, has become internationally renowned five-star hotel operators. Today, the Kuok business empire not only across the whole of Asia, but also extended to Paris, San Diego, Vancouver, Chile and other places.
Customer Relationship Management is an concept to stabilize its relations with the customer thereby helping in reducing the cost as well as enhancing the yield in order to help in gaining profits in the business. A CRM is basically a store house of all the information regarding their customers information and the satisfactory points of customer. This unit can be incorporated in different firms be it small or big as it helps in creating , maintaining and stabilizing good business profits for the firm Usually an organization consists of various departments who have access to customer’s information either directly or indirectly. A CRM gathers this information ,checks it and then makes it accessible within all the departments in the firm . For
Most payroll outsourcing services have advanced technologies that can alert clients to several types of payroll fraud. Additionally, a quality payroll provider invests in state-of-the-art systems for storage and protection of data. • Right Exposure and Guarantees compliance- One of the key benefits of payroll outsourcing services is that you no longer have to manage compliance in-house. The complete responsibilities now rest in the hands of well experienced and expert professionals who will ensure that specific company is meeting all legislative requirements. • Generating Better Productivity and Efficiency- Payroll outsourcing companies helps you to improve efficiency and productivity by costs, efforts and time incurred for carrying out in-house payroll operations.
It is a way to improve a company’s corporate governance, risk management and management controls by analysing data and business processes. It also provides hits to board of directors and senior management on how to manage a company. 1. Professionalism Individualism is better for internal auditing professional development. (Sarens & Abdolmohammadi, 2009) Internal auditors are supposed to be more independent, even they are not truly independent, due to they are employed by the company but audit that company.
They should have the full preparation brief and easy to execute. Computer-based inventory and sales system are effective, efficient, and is very important in business transactions and to a company who don’t want to loss profits. Evaluation Therefore Computer-based inventory and sales system at Alex-Con fedler is needed to implement. Conceptual Framework The conceptual framework of the study is shown below: Figure 1.2 Conceptual Framework Administrator’s Module Add, edit, delete, and change password of a user. Add, edit, and delete a customer and supplier.