Suchergebnisse

• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 31: Bankgesellschaft Berlin (Germany, 2001)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …, with the accompanying problems, become so clearly visible. Politicians sat on the bank’s board for decades, and control of the bank’s activities was… …largely lost as a result of the politicians’ failure to fulfil their supervisory role. Said one observer: “Give politicians control of banks, and you… …mix of businesses made it difficult for the supervisory board of the parent institution to maintain control and insist on clear risk reporting from… …to restructure the bank: cutting costs, bringing its subsidiaries more firmly under control, and re- focusing on its core domestic retail and savings…

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• eBook-Kapitel aus dem Buch Integriertes Revisionsmanagement

  Aufbauorganisation

  …gegliederte Auflistung der im Unternehmen durchgeführten Geschäftsprozesse das Grundgerüst sowohl für das Internal Control Self Assessment als auch für die… …Requisition Approval Purchase Order Processing Open Purchase Order Review B 5. Goods Receive Goods Receive Process Goods Quality Control… …inhaltliche Dimension der Revisionsarbeit. Abbildung 14: Revisionspyramide I90 Den Fuß dieser Pyramide bildet das Internal Control Self Assessment, das in… …Glie- derungspunkt. 2.1.2.1. behandelt wird. Grundlegende Anforderungen an das IKS werden hier als sogenannte „basic internal control requirements“ an… …unter anderem die Anforderungen des Internal Control Self Assessments enthalten (Gliederungspunkt 2.1.2.2.). Eine Sonderstellung nehmen, wie die… …begünstigen, wohin- gegen individuelle und übergeordnete Belange tendenziell zentral zu behandeln sind. Control Self Assessment Das Self Assessment, im… …Folgenden Control Self Assessment (“CSA“) genannt, bildet die erste Stufe der Revisionspyramide –in zweierlei Hinsicht: Zum einen symbolisiert die erste… …Stufe inhaltlich die „basic internal control requirements“, so- zusagen die „Grundausstattung“ der Unternehmung mit IKS Elementen. Zum ande- ren… …Die Control Self Assessment (CSA) Methode dient der Beurteilung und Bewertung existenter Elemente des IKS durch die Unternehmenseinheiten in Form von… …schrittweisen Verbesserung des IKS. Die Ausrichtung eines Control Self Assessment (CSA) Systems ist in Abhän- gigkeit folgender Faktoren zu sehen: –…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  International Professional Practices Framework – Overview of the current guidance of the Institute of Internal Auditors

  T. Flemming Ruud, Philipp Friebe, Daniela Schmitz, Shqiponja Isufi

  …different legislative and regulatory initiatives aimed at improving the Governance, Risk Management and Internal Control of an organization. The PPF has… …. FINMA-Circular 2008/24 Supervision and Internal Control banks (former Circular 06/6 Supervision and Internal Control of the Swiss Federal Banking Commission). 4… …systematic, disciplined approach to evaluate and improve the effectiveness of Risk Management, Control, and Governance processes. Figure 2: Definition of… …Governance, Risk Manage- ment and Internal Control. The Position Papers primarily explain the roles of Inter- nal Audit in relation to these processes. For… …Control processes (Standard 2100). To clarify the interrelationship of these three processes, the order was changed. Standard 2110 relates to Governance… …(previously Risk Man- agement). Standard 2120 relates to Risk Management (previously Internal Control), while Standard 2130 describes the tasks of Internal…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Internal Auditor – Generalist or Specialist

  Dr. Heinrich Schmelter

  …audit methodology 3. Internal control and risk management knowledge 4. Internal audit experience 5. Financial knowledge 6. Technology knowledge 7. IT… …tor/the respective internal audit department and destroys the value of any audit re- sult, in the individual case. 2.7 Specific Internal Control and… …Risk Management Knowledge Internal control and risk management include specific specialist knowledge, which can only – and almost exclusively – be… …monitoring function, the audit department must primarily ensure the functionality of internal control and ensure sufficient risk management84. In order to… …. Because neither internal control, nor risk management are common (university) education subjects, these specific professional requirements essentially need… …audit experience is the collective product of many years of work in internal audit. Beyond internal audit methodology, internal control and risk man-… …also work perfectly regarding audit methodol- ogy and be a competent advisor for internal control issues. After several years in a company, he/she… …processes. Regarding internal control, he/she must be the best specialist advisor in the company, together with the internal audit manager. In accordance… …described above for the finance- oriented senior auditor. With the specialist internal control knowledge, similarly high requirements also exist for… …finance-oriented, technically-oriented and IT- oriented senior auditors, of course, always with the expectation of having the neces- sary specific internal control…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Doing More with Less

  Neil Baker

  …representing the main area receiving extra attention. Half of the re- spondents feel that budget cuts across their organisation would damage its control… …control coverage, but the majority (58 %) have no plans to do any work on this risk. Jim LaTorre is managing partner of PricewaterhouseCoopers’ U.S… …runaway costs that cannot be con- trolled. I’ve been to meetings and heard people say we couldn’t control medical Doing More with Less 103 costs… …lessons did he learn? “First of all, don’t panic,” he says. “As auditors, we control our own destinies. We can decide what is going to be audited, when it… …control.” An Audit Makeover In this tough economic climate, internal auditors should think about giving their function a quick four-step makeover…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  The Warning Signs of Fraud

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Analysis: Lessons Learned 270 – Operating without budgetary control; budgets not reviewed or senselessly justified – Difficulty in determining the… …dictate conditions to suppliers or customers that may result in inappropriate or non-arm’s-length transactions (3.) Control structure… …(monitoring of management, internal control components) – Ineffective board of directors or audit committee oversight over the financial reporting process… …; poor data processing controls – Significant accounting system changes, particularly the implementation of new, complex systems, or where control… …transactions – Inadequate physical safeguards over cash, inventory, or fixed assets – Lack of mandatory vacations for employees performing key control… …. Public Companies, www.corpgovcenter.org, 1999 Biegelman, Martin T. / Bartow, Joel T.: Executive Roadmap to Fraud Prevention and Internal Control… …, www.papers.ssrn.com, April 2010 Lundelius, Charles R. Jr.: Financial Reporting Fraud – A Practical Guide to Detection and Internal Control, New York 2003, pp. 9–12…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 34: Royal Ahold (The Netherlands, 2003)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …permitted a parent company to fully consolidate the financial data of a joint venture company only if the parent could exercise effective control over that… …firm’s operations. However, Ahold owned no more than 50% of the voting shares and there were agreements that clearly provided for joint control by Ahold… …, which stated, in effect, that Ahold controlled the joint ventures (“the control letters”). But soon thereafter, Ahold and its joint venture partners… …executed side letters that re- scinded the control letters, and thus the basis for full consolidation (“the rescinding Accounting Fraud in European… …Companies 203 letters”). CFO Michiel Meurs, who signed both the control and the rescinding let- ters on behalf of Ahold, knew that the auditors were… …relying on the control letters and were unaware of the existence of the rescinding letters. CEO Cees van der Hoeven was at least reckless in not knowing… …to make up numbers. It usually starts small, here and there, and then it just snowballs out of control.” References: European Corporate…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 40: Kanebo (Japan, 2005)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …to ensure audit quality control was deemed insufficient by the agency. The penalty was the FSA’s first against one of Japan’s “Big Four” audit firms… …the taint – changed its name to “Misuzu Audit Corporation” and under- went a review to strengthen its quality control functions. But already in February… …a majority of Kanebo’s stock and took over control of the company. The former Kanebo president, Takashi Hoashi, and his deputies won leniency…

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• eBook-Kapitel aus dem Buch Integriertes Revisionsmanagement

  Anforderungen an die Interne Revision

  Marcus Bauer

  …Maßnahmen, durch die die Zielerreichung soweit wie möglich gewährleistet wer- den.54 Demnach umfassen die Kontrollen im Sinne von Control Activities die ge-…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Fraud Theories

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …control components � Inappropriate values or ethical standards of management � Strained relationship between management and auditor Incentive/ Pressure… …override”) the internal control system. 2. The person must also be smart enough to “pull it off”. Most of the accounting frauds are being committed by… …intelligent, creative and experienced people with a thorough understanding of internal control weaknesses and vulnerabilities. 3. Besides, the typical… …, www.camagazine.com, May 2003 Biegelman, Martin T. / Bartow, Joel T.: Executive Roadmap to Fraud Prevention and Internal Control, Hoboken/New Jersey 2006, pp. 32–41…

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