Subject: Assessment of Exton Industries, Inc.
Dear Ms. Johnson:
I have recently reviewed the Control Environment Questionnaire for Exton Industries, Inc. After evaluating the evidence collected by our staff member, I have come up with an assessment of the fraud risks. From the evidence gathered, I have concluded that Exton Industries has a weak control environment. Overall, it will not do an effective job of preventing fraudulent activities.
While evaluating Exton Industries, I had to consider how the control environment would prevent misstatements arising from misappropriation of assets and fraudulent financial reporting.
The controller, CFO, and CEO review all financial reports before releasing them. Another area to consider was the assignment of authority and responsibility. Because three different people review the financial reports, it’s easier to identify any mistakes that may have been made which in turn reduces the chances of misappropriation in fraudulent reporting. Through conversation with employees it was noted that proper responsibility and delegation of authority were assigned and the proper information appeared to be considered in developing responsibilities. Written job descriptions and standards also exist. Since proper responsibility and delegation of authority and written job descriptions and standards exist the, the chances of fraudulent activities are reduced.
Other issues to consider were management’s commitment to competence and human resource policies and procedures. During the hiring process, management makes sure the potential employee possesses the proper knowledge and skills to carry out the job adequately. Upon hiring, the new employee is made aware of his or her responsibilities and management’s expectations of them. In addition supervisors conduct annual reviews. The company’s previous success also shows that employees have the required skills and knowledge. Discussions with employees indicated that they are made aware of the consequences if they perform ineffectively and/or do not fulfill their responsibilities. Exton Industries has effective controls in their commitment to competence and human resource department’s hiring and review process.
Overall, the control environment of the board of directors and audit committee will p...
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...ast year several employees have left on short notice and there has been difficulty in retaining key personnel. The new management team is probably worried about getting profits up and by using an aggressive approach there may be more errors because financial statements may not checked as thoroughly. The cause of the high turnover rate should be investigated, employees may be leaving because others are committing fraudulent behavior and they do not want to get involved. Management may be encouraging this or may not see it because they are too worried about making the company look profitable. Lastly, there were failures to protect valuable assets, which could lead to misappropriation of assets.
In conclusion, I found that Exton Industries has some internal controls that will prevent fraudulent financial reporting and misappropriation of assets however, they are lacking effective internal controls as well. As a result of Exton Industries having weak internal controls, control risk is increased and the audit team will need to choose higher control risk strategies. If controls in the areas lacking are not improved the control environment will fail to protect future fraudulent acts.
While living our daily lives’ something unexpected might happen to us college kids. Something that no one ever wants to catch or have, the so called “Freshman 15.” The Freshman 15 is a way of saying that freshmen in college are going to gain at least fifteen pounds or more during the first year of college. No matter what college students do in their hectic life, there just never seems to be any time to do anything other than school work. There is no telling who will gain these horrifying fifteen pounds during their first year in college, it just depends on the choices a person makes while being in college. There are so many ways a person can gain the Freshman 15, but there are also so many ways to avoid gaining excess weight. The different ways to avoid gaining the Freshman 15 include: eating a healthy breakfast every day, avoiding late night snacks, getting plenty of sleep every night, avoiding overly sugared drinks and eating healthy on a daily basis. By eating healthy and making healthy lifestyle choices, students can avoid gaining the Freshman 15.
One common theme for students transitioning to college is the concept of the freshman 15. The freshman 15 is the idea that a freshman college student will gain 15 pounds throughout the duration of their first year of college. It is something nearly every incoming college student hears about (Delinsky & Wilson, 2008). The freshman 15 can be accounted to numerous factors, such as the student’s living environment, the food available to them, the level of their physical activity, their level of stress, and their eating habits.
In the novel, The Poisonwood Bible, the author, Barbara Kingsolver, conveys that not everyone tries to colonize for the right reasons. Nathan is one of these people because he only wants to “help” the people of the Congo for the guilt he feels about something else. Just as the Duke of Norway tries to colonize them for profit and no one really stopped him from doing so. Like, the girls are unable to persuade Nathan to stay home and not go to the Congo.
When I arrived here at college I was extremely disappointed with the selection of food here in the cafeteria. I frequently found myself eating only hamburgers and pizza over and over again, simply because I did not like the other choices. About four months into the school year I had do go to the doctor for a virus and when the nurse weighed me I was a little surprised by what I saw. I had gained a little over ten pounds, close enough to what some refer to as the “Freshman 15.” It is a common fear among college students that they are going to gain fifteen pounds during the course of adjusting to college life. However experts have stated that the idea of the so called “Freshman 15,” is not that accurate. Every college student is obviously not going to gain fifteen pounds. However I believe that it is possible and it is a problem for many college students. College life completely changes eating habits among college students. Most students do not make the right choices about eating and exercising. College students across the country are severely unhealthy in their behaviors, and for some students the “Freshman 15” may be a reality.
Kingsolver only gives the reader five possibilities out of an infinite number of options of how the people’s reaction towards guilt impact the way people decide to live. Since there is also a sixth Price in this story, Nathan Price, the audience (readers) may wonder why Nathan is not given a voice as well, so that he too can present us with a possible response to guilt. In my opinion, I believe Nathan's relation to guilt, however, is very different from the relation Kingsolver wants to explore here. Nathan is not the conqueror's wife, but the conqueror himself. He is not the passive partner in crime, but the perpetrator. Nathan represents the active forces of evil for which we now feel the burden. He is a stand in for the United States government, the Belgian colonialists, the thousands of arrogant and destructive missionaries, and all others whose blind arrogance and greed wreaked havoc on a continent. Nathan himself never speaks to us, though his sermonizing voice echoes through the novel. He is excluded because he resists all sympathy, he refuses to admit to doubt or weakness. "Our father speaks for all of us," observes Adah pg. (32), and so the voices of his family are a kind of descant to his mission. Telling a story in a sequence of monologues by different characters is a
Racism is a thing of the past; it is not still present in 2016. Racism is dead. These are widely misunderstood or incorrect phrases people tend to say. Actually racism is everywhere; it is in our news, entertainment, everyday life etc. People continue to deny it even though it is plainly here in our faces. It is 2016 and the KKK (a terrorist organization against African Americans) is still rallying, but people think racism does not exist anymore. The KKK even rallied at the University of Missouri. Black students were threatened and frightened to attend some of the classes that they are paying for. What is stopping them from coming to the University of Memphis? As shocking as that is people will still say racism is in the past. I believe racism is when one particular race believes their race is better than another, and will mistreat, abuse, and try to keep that race down. Racism is defined as the belief that all members of each race possess characteristics or abilities specific to that
...in its massive population and continue to in the future as well. There are other innovations and alternatives on the way in the future as well, including entomophagy, which is the practice of eating insects. Scientists see this as a viable alternative as well because insects are full of protein and would evidently take up way less space than the cattle does already. Although this is additional idea to solve the food crisis, many people are more squeamish about eating animals than eating cultured meat. Therefore, in-vitro meat will definitely become more popular to the general public once people are truly aware of the toll food production is having on society. Even though cultured meat is many years from being commercialized, people should really start realizing what is happening to society and look towards an future that could include many new ambitious food options.
Without understand the negative impacts of turnover, a company may be placing itself in a position that will ultimately lead to their demise. We are going to solve our problems and set our company on the path to success, a success that is not only reflected in our bottom line but also our employees’ morale.
The main problems that are affecting the company were the high level of labour turnover, below target production rates, high levels of scrap, the employees had little input in the decision making, therefore resulting in low motivation and job satisfaction, and didn't have enough feedback on there performance. Added to this was the conflict between the supervisors and employees in the production and packing areas, and the grading and payment levels wasn't satisfactory to the employees.
Paraprofessionals are important members of the education team. They can work one-to-one with students, providing help in a certain subject area. Paraprofessionals can teach small groups of students with an area where they may need more help and practice. If students are reading a story, the paraprofessional can call back a small reading group and work on different reading skills with them. They can assist the teacher with planning the lesson and assessing the students during the lesson.
One of the first thing a freshman hears or thinks about when going to college is the legendary “freshman fifteen.” The freshman fifteen is defined as a fifteen pound average weight gain that happens during a student’s first year in college. This problem has affected many freshmen because it causes them to fear that they are going to gain weight when they go off to college, but the undetected truth of this case is that a lot of freshmen lose or gain under fifteen pounds. To solve this ongoing problem, colleges and universities should incorporate more healthy food items on campus, provide student cooking, and create fitness and wellness housing.
In modern times, around two-thirds of American high school students continue their academic careers and enroll in college. This change in scenery results not only in a change in values and beliefs, but also in a change in the lifestyles of many students. Even though many high school and college students will tell you that they do not need their parents, most students do not and can not make all of the most beneficial decisions for themselves. This life style change contributes to one of the most widespread issues not only among college students, but among American people as a whole: weight gain. Food choice and lack of exercise are the primary reasons that many college freshmen gain weight when entering college, also known as putting on the
When you get to college, you have so much freedom, it can be overwhelming. This is probably why so many college freshmen gain weight during their first year of undergraduate school. There are no rules! At least, that 's how it seems.
The Hollate Manufacturing case provided by Anti-Fraud Collaboration has well illustrated how several common issues in an organization contributed to the fraud’s occurrence. These issues can be categorized into two major groups: ethical culture (internal aspect) and internal control system (external aspect). By taking effective actions to enhance these two aspects, an organization can protect itself against the largest frauds, which result in financial and reputational damage.
Weight Changes, Exercise, and Dietary Patterns During Freshman and Sophomore Years of College Susan B Racette, Susan S Deusinger, Michael J Strube, Gabrielle R Highstein, Robert H Deusinger Journal of American College Health Vol. 53, Iss. 6, 2005