The focus is on the concept of red flags and how we detect these inside a corporation. This is important, as the internal controls mechanism should define a specific approach for monitoring financial statements (and the base transactions below the consolidated statements) on an ongoing basis.
Address the following situation:
You are the controller of a global business unit of a major corporation. This business unit is comprised of 15 manufacturing plants globally, which roll up into consolidated business unit financials for which you are responsible. As a result, you are tasked with monitoring the financial results of the entire business unit, which entails ensuring that there are no fraudulent activities rolling up through your financial statements.
How would you design your monitoring system to handle this responsibility?
What specific steps would you put in place to manage the global financial statements?
If you did notice potentially questionable activity in one of your plants, how would you react? What would you do to investigate and address the issue?
1 page answer needed with one reference
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Transparency, Recognition and the role of eSealing - Ildiko Mazar and Koen No...
The focus is on the concept of red flags and how we detect these ins.docx
1. The focus is on the concept of red flags and how we detect these
inside a corporation. This is important, as the internal controls
mechanism should define a specific approach for monitoring
financial statements (and the base transactions below the
consolidated statements) on an ongoing basis.
Address the following situation:
You are the controller of a global business unit of a major
corporation. This business unit is comprised of 15
manufacturing plants globally, which roll up into consolidated
business unit financials for which you are responsible. As a
result, you are tasked with monitoring the financial results of
the entire business unit, which entails ensuring that there are no
fraudulent activities rolling up through your financial
statements.
How would you design your monitoring system to handle this
responsibility?
What specific steps would you put in place to manage the global
financial statements?
If you did notice potentially questionable activity in one of your
plants, how would you react? What would you do to investigate
and address the issue?
1 page answer needed with one reference
