Hello Tutor

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Task 1

For this task you are to write a report detailing how you would implement and maintain internal control procedures in an industry of your choice. Your report must include details on the following:

Ways that you would review corporate governance requirements

Processes you would use to implement operating procedures

How you would monitor policy

This may include developing an implementation strategy that contains:

Methods used to communicate the strategy to colleagues

Methods used to train colleagues

Development of the control/operating procedures

Please ensure you provide the full strategy including but not limited to all points listed above in a professional manner. You must ensure you check for accuracy before submission. If you research any websites of books, please make sure your reference each site accurately.

Answers to this task will vary however students should outline the following in their report:

Ways they can identify and analyse corporate governance requirements to determine application to operations

How to access clarifications on application of corporate governance requirements from authoritative and recognised sources

The process for reviewing and developing internal control procedures, reflecting the application of corporate governance requirements to internal operations

How to maintain and review financial delegations and accountabilities to ensure consistency and compliance with internal control procedures

How to produce, review and distribute required reports within agreed timelines

The process for developing timetables for the implementation of corporate governance requirements in consultation with stakeholders

How to document and detail internal control procedures in standardised formats to promote consistency of use

Descriptions of how the applications of corporate governance requirements are developed from published sources or recognised practices

How to develop and report performance indicators to evaluate compliance with internal control procedures

How to identify and evaluate any variations in adoption of corporate governance requirements in operations to determine causes

How to develop and implement modifications to procedures to facilitate compliance with internal control procedures