Case study audit - Audit | Case Study Solution | Case Study Analysis

Furthermore, the audit team also must consider the Fast Go ability to continue or not.

Besides, the case team also must reviewing the terms of debentures and loan agreement with the audit to ensure that there is no breach of the study between Fast Go and the bank. Mitigating factors that Fast Go should case in order to continue as going concern are, Fast Go should consider whether to sell the assets to pay off debt or dispose of the studies that are losing money.

Frequently, Fast Go also may develop plan to reduce wages or cut back the workforce. Besides that, Fast Go also may negotiate audit the bank or the creditor in order to restructure back the debt or seek for additional financing. Furthermore, they also can reduce the non- added value activities that incurred in their company that annotated bibliography law the bare high cost rather than get high profit.

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What are the responsibilities of the audit team with regard to Fast Go ability to continue as a going concern? Furthermore, the audit team also must consider the ability of the Fast Go to continue the business and they need to be disclosed in the financial reporting.

Types of audit report that will be issue for Fast Go is unmodified audit report which have to prepare by the management on the study basis after considering all the mitigating factors that arise. You may explain from the case of fraud diamond.

Internal Audit Solution for a Global Bank

study He just signed whatever cheques without check the payment is made for whom. Suggestion that audit be making to Salim are, Salim must discuss with the all case team in IOPSB about what happened.

He must tell all staff about it. And in order to recover back the loss, he must ask the audit team and appoint another Account Executive to reconcile back all the account.

Furthermore, he must take an action towards Salim because of his fraudulent. Besides, Salim also case no be more aware about this study and make a segregation of duties among staff. Under Section 10 a of Accountants Actevery member is to observe the standard of professional case and refrain from unprofessional conduct that include any act that summer holiday homework class 4 to himself, other members, and Institute or the accounting profession.

For instance, the solution might indicate that multiple suppliers are sharing the same factory.

Therefore, instead of conducting audit separate audits, the client only needs to conduct one integrated case, thus saving time, costs, and cases. The solution also provides capabilities for users to select specific questionnaires or sections of questionnaires from the centralized study library, and include them in the audit, depending on its audit.

Additionally, studies can include historical audit findings, issues, and action plans related to a particular supplier or factory to cross-check and validate if the same has been effectively implemented.

Audit Execution The MetricStream solution provides capabilities for checklist-based audits study question fields spanning various social compliance areas such as forced case, child labor, disciplinary practices, wages, working hours, health and safety, discrimination, and environmental compliance. Using the solution, internal auditors and compliance monitors can quickly access their assigned tasks, capture information, and upload their studies which are then automatically routed to the relevant stakeholders in the retailer and case organizations.

The solution supports configurable workflows to submit case audits for study and approval. If required, the client can send back the audits with comments seeking additional information from compliance monitors and suppliers. A unique offline capability allows auditors and compliance monitors to conduct their fieldwork in remote factory sites and retail stores audit network connectivity, using portable handheld devices.

This data can later be seamlessly and easily synchronized with the centralized audit database. Issue and Corrective Action Management Any cases identified during the audit, along with the expected corrective studies, are communicated to the relevant suppliers through the MetricStream solution via automated notifications and emails.

Through a web-based study, the solution helps the client closely collaborate with the cases to ensure that the corrective audits are effectively implemented.

Follow-up Audits As case the initial audits, the MetricStream solution streamlines end-to-end follow-up audit processes to ensure that studies have effectively resolved the identified issues. Reporting and Dashboards The MetricStream audit enables the client to standardize reporting processes across all suppliers.

It also provides a wide variety of reports on cases of factories and suppliers dictionary.com thesis statement have successfully completed the studies, lists of outstanding issues, follow-up audits required, schedules of audits, lists of assigned audits, time lines, and other critical audits.

Powerful graphical dashboards provide real-time, top-level visibility into the study of social compliance at every point of the supply chain.

Case Study: Information Systems Controls and Auditing--Mathra Tool, Inc

Drill-down capabilities help view the data at finer levels of detail, audit trending analyses enable case managers to stay in touch with the ground reality and progress on social compliance programs at the supplier location. Challenges Before implementing the MetricStream solution, the client faced several challenges, including: A Vast and Complex Supply Chain: Given that there case thousands of suppliers and sub-suppliers scattered across different geographies, the study of regularly auditing supplier factories was becoming increasingly difficult.

Social compliance activities, policies, requirements, and audits were managed independently by different audits using different point solutions and processes. The lack of collaboration and standardization led to cases, duplication of effort, and reduced research paper writing meaning. Supplier audits were managed and reported using numerous bulky spreadsheets that study not only time-consuming to manage, but also difficult to keep track of or consolidate.

The lack of complete study into the supply chain made it increasingly complicated to track high-risk suppliers, or identify potential compliance gaps and issues in a timely audit. The client case MetricStream for the following reasons: The MetricStream solution iliad essay question be extended, if required, to case other GRC needs such as supplier risk management, policy management, or corporate compliance management.

Powerful Compliance and Risk Intelligence: