文档介绍：CORPORATE GOVERNANCETHE ROLE OF INTERNAL CONTROL
STRATEGICMANAGEMENTSERIESCORPORATE GOVERNANCE:THE ROLE OFINTERNAL fraudulent financial reporting, theFuture accounting historians who lookfirst, second, 6>and fifth relate to aspectsIssuesback on events relating to internal con-of internal control:trol in the 20th century are likely to seePaper??The absence of a board of directorsthe publication of a . study on fraudor 2>mittee that vigilantlyin 1987 as the most significant devel-oversees the financial reportingopment of the century. This study, of the mission on??Weak or nonexistent internalFraudulent Financial Reporting(ounting controls. This situationreferred to as the missioncan occur, for example, when areport, after its chairman) had pany’s revenue system is over-objective of identifying:loaded from a rapid expansion ofi)causal factors that can lead tosales, an acquisition of a new divi-1fraudulent financial reporting;sion, or entry into a new, unfamil-andiar line of )steps to reduce its incidence.??Unusual plex include the consolidationIt is noteworthy that of the five sit-of panies, the divestiture oruations identified in the Treadwayclosing of a specific operation, mission report as opportunitiesMANAGEMENTCONTENTSEXECUTIVE SUMMARYCONTROLPAGEI. INTRODUCTION1Recent extensive study of internal control inII. THE MEANING OF business has led to the development of a def-INTERNAL CONTROL3inition capturing both positive and negativeIII. DISTINCTIVE CHARACTERISTICSaspects of the issue. While the structure of OF THE CANADIAN anizations often undermines thisIV. EVOLVING TRENDS IN INTERNALcontrol, it has e recognized as an essen-CONTROL – DEFINITION AND ponent of essful 10V. EVOLVING TRENDS IN INTERNALThe Canadian environment is discussed CONTROL – PRACTICE AND as it affects control, including a breakdown byAPPLICATION12relevant factors such as technological advances,VI. THER