The Impact of Good Corporate Governance in Internal Control Essay

The Impact of Good Corporate Governance in Internal Control - Essay Example As result, nowadays, the corporate governance has a significant role to the companies to escape from failures in collapses or fraud. However, the discovery and prevention of fraud are significant challenges facing the business environment. Therefore, the ways in which companies' deals with fraud may enhance either the internal control and independent internal auditor or the need for forensic accounting. The forensic accounting is increasing in many organizations to identify situation, systems and security weaknesses by design and advise measure to reduce and limited inherent risk in the organization. The Enron and WorldCom in the US corporate collapses and fraud shook the foundation of the financial system and corporate governance, therefore; regulators in the U.S reform corporate governance by established the Sarbanes-Oxley act in June 2002 and Cadbury in the UK, in 1992, which now combine code. This assignment will illustrate the impact of good corporate governance in internal cont rol and internal auditing function to prevent fraud and detection. 2. Corporate governance and the prevention of fraud and detection Through the decades, the increase of the complexity of organizational activities have resulted to the increase of the difficulty of their control.   However, a mechanism should be also established ensuring that the rules and the guidelines included in the firm’s corporate governance scheme are followed. In any case, the value of the corporate governance as a framework for preventing fraud and defection across the organization cannot be doubted. This view is analytically explained below referring primarily to the main aspects and the role of corporate governance as a strategic tool for monitoring the progress of the organization in regard to its aims and mission; at the next level, the role of corporate governance in preventing fraud is presented explaining the challenges and the benefits of the involvement of corporate governance in such activity. 2.1 Corporate governance – role and characteristics Different approaches can be used in order to explain the role of corporate governance in modern organizations. In accordance with Anand (2007) corporate governance is a framework that ‘incorporates almost every aspe ct of corporate life’ (Anand 2007, p.77); however, it is explained that in its common form, the corporate governance framework consists of rules that aim to protect the interests of the firm’s shareholders (Anand 2007). On the other hand, Du Plessis et al. (2010) note that the term ‘corporate governance’ can incorporate many elements; among these elements two are considered to be the most important: the promotion of the interests of the shareholders and ‘the regulation/ monitoring of the corporate conduct’ (Du Plessis et al. 2010, p.10).  

Adviertisment Essay Example | Topics and Well Written Essays - 1000 words

Adviertisment - Essay Example Rumors may tarnish the quality of a product, but adverts will tend to assure that the product is good. Whether pitching or promoting products and services, all businesses need to make advertisements in order to make connections with their current and prospective customers. Small scale businesses face challenges in making choices on whether to spend their small advertising budgets on television or posters. Print adverts often come with lower sticker prices than the television adverts. TV adverts are strong and have a variety of advantages that the posters lack. Making adverts over the television is more effective than the posters because it reaches out to customers over a wide area at the same time. This survey product on 20th of April 2014 and was given to ilac students , teacher who were in pre-degree iii classes on 8th of April 2014.there were 26persons received this survey however all that people who answered were asked to be anonymous, only there ages and countries can be recorded. Because ilac is an international language school, all of people who answered that surveys covered a particular age from 17-40 years old, include 11 different countries these anonymous were given survey with 10 questions about advertisement. Six of the respondents from Ilac, Russia and two from Asia said advertisements are meant to increase sales in a business. Increasing the sales result in an increase in the profits of a business. But making more sales is not the only use of making. Advertisements can be used as a way of introducing services and products in the market. Through adverts, people who get access to them will learn about the new product without necessarily having to buy them. Adverts can also be used to impress and motivate different trade channels. Making an advertisement about a product may change the perception of how people or consumers think concerning the product. Rumors may tarnish the quality of a product, but