L7 Notes_Part_4 - Support for internal audit function...

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Elements of the Control Environment Management philosophy and operating style (“tone at the top”) Existence and enforcement of a Code of Conduct Effectiveness of strategic planning (business plan ) Appropriateness of organizational structure Assignment of authority and responsibility Florida audit, IA ->ctlr Hiring, motivating and retaining policies Existence and effectiveness of an Audit Committee Management control techniques Risk identification and assessment
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Unformatted text preview: Support for internal audit function External or regulatory constraints on decisions and activities Information technology and software development W.R. Knechel Incentives of Management Annual Bonuses depend on these Performance Measures: EPS Revenue Operating Income/EBIT/EBITDA Non-financial Accounting returns (ROA/ROE) Cash flow/free cash flow Net Income Operating Margin Share price/total shareholder return EVA Expense/Cost reduction W.R. Knechel...
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L7 Notes_Part_4 - Support for internal audit function...

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