Articles Relating to the Lack of an Internal Audit Department in a Article

Articles Relating to the Lack of an Internal Audit Department in a Company in the UAE - Article Example It also means that the individuals involved do not assess their individual work or even that of those that they are answerable to. There should be a disclosure of any possible or real conflicts of interest that appear to hamper a straightforward and impartial assessment. The internal audit resources have also seen expansion for the purposes of satisfying the increasing demand for the services to facilitate financial report and internal control’s executive certifications. In the future years, it might be expected of the internal auditors to broaden their role to responsibilities such as the improvement of risk management, reduction of organizational costs and complexity, and participation in the development of governance and strategic processes. For instance, the rules of Proxy Disclosure Enhancements of the United States Securities and Exchange Commission to reveal their governance measures, which include the structure of their board, the board’s supervision of risk man agement as well as its relationship with the executive practices and policies of compensation. The new proxy rules will actually exert pressure or compel the boards to show their role in the supervision of risk management, and further, this presents both opportunities and challenges for the CAEs (chief audit executives) and their teams of internal auditors. All companies that have the department of internal audit have had it very smooth in running their affairs. Their audit departments have helped in keeping track of where the money goes, and ensures that the money is put into good use, and not for the benefit of individuals. The departments have also helped the organizations in knowing if it is making or losing money. Internal audits helps companies in reviewing the processes’ efficiency together with the related international standards, shows commitment by the top management, offers scope of improvement, offers information for the management review meetings as well as helpi ng in the improvement of client confidence and satisfaction. The Importance of the Internal Audit Function in a Company by Jeffrey Thomas This article basically talks about the significance of the department of internal audit in an organization. According to the article, internal auditors carryout a range of activities which include helping their organizations in the prevention of fraud by evaluating and reviewing the effectiveness and adequacy of the system of their internal control, correspond with the level of a possible exposure within the company. The internal auditors should take the following into consideration when meeting their obligations: Examine the control environment’s aspects, carry out practical fraud investigations and audits, report fraud audits results and offer support for efforts of remediation. They might also own the hotline of whistleblower in some cases. They should also examine fraud risk assessment by the management, especially, their process for th e identification, assessment and testing of possible scenarios and schemes of misconduct and fraud, which include those involving contractors, suppliers and even some other parties. Moreover, they should examine the operating and design effectiveness of the controls that are fraud related; ensure that audit programs and plans tackle residual risk and include fraud

Risks of Advertising Targeted on Kids Essay Example | Topics and Well Written Essays - 1000 words

Risks of Advertising Targeted on Kids - Essay Example With the increasing media habituation among the kids, the advertising companies are more and more interested in establishing their brand prospects through the persuasion of these pip-squeak customers. Eric Schlosser’s article Kid Kustomers discusses how the children of today are targeted by the advertising companies with attractive ads for their intended materialistic gains. In this essay, I shall discuss briefly the impact of kids-focused advertising among the kids of today. It is obvious that kids-aimed marketing strategies carried out by the advertising companies is causing adverse behaviors among the children, raising concerns in various quarters. Schlosser, in his article, Kid Kustomers introduces the new trend of the advertising firms to target the children for promoting the brands or products or services of their client companies, through enticing and at the same time dubious ads. He briefly describes how this trend came to action, by scrutinizing the working class pare nts who want to compensate for spending less time with the children by spending more money on them. Actually, the advertising companies are well aware of the children’s mentality and know exactly how to get into their heads, for persuading them to nag their parents to buy the products. This makes the advertising marketers to turn the kids as the ‘surrogate salesmen’ for their businesses utilizing the ‘leverage’, ‘the nudge factor’ or the ‘pester power’ of the kids. By discussing the different marketing strategies and research works handled by the advertising companies, Schlosser shows how these ads have increased the sales of the businesses, by utilizing the children’s innocence. He also mentions a few kids-attracting ads by the cigarette and alcohol companies that have caused negative impacts on the children. For instance, The Joe Camel ad campaign by a cigarette company is one of the well-known examples that created adverse effects on the children’s behavior owing to the advertising. It was studied that one-third of the illegally sold cigarettes were of Camels brand, which proves the power of advertising among the young. Similarly, the way that advertising impacts the children is evident from a survey showing that though kids liked the Pepsi and Nike commercials, they are mostly driven by the ads of Taco Bell and Budweiser for its ad characters like talking Chihuahua and frogs. (Schlosser 223). Thus, advertising has a profound impact on the kids, particularly when they are targeted in an enticing way. However, the effects of these ads on the children are still controversial. Though legal measures were taken a few decades ago to protect and regulate the ads aimed at children, the restrictions and bans were later declared as impractical. In the modern days, TV advertisements are broadcast round-the-clock to target children of all ages, and are far from being banned. The advertising compan ies’ focus towards the children for their products’ marketing is mainly because of the great deal of ‘pester power’ and ‘leverage’ by the kids to get their parents’ approval. One marketer notes about this kids-aimed advertising as, â€Å"It’s not just getting the kids to whine, it’s giving them a specific reason to ask for the product.† (Schlosser 223). However, the intended response goes far from the expected reality, as children nag their parents in unhealthy ways. James U. McNeal analyses this nagging and has categorized it into seven kinds, which are used as the requesting styles and appeals by the children to get their pare