Question 1

Explain how performance indicators (KPIs, Budgets, Variance analysis, ratios, cancelled invoices etc.) can be used to evaluate compliance with internal control procedures? (Your answer should be between 80 to 100 words)

Question 2

Explain how the size of the organisation can affect segregation of duties and financial delegations and accountabilities? (Your answer should be between 50 to 60 words)

Question 3

You have set a clearly defined organisational chart that shows who each employee reports to and the departments they belong to. Each department manager, at induction and appraisal time, has discussed with each employee their job description and roles and responsibilities. There are authorisation limits documented in writing that specify how much expenditure each department manager can approve for purchases and expenses without needing Board of Directors approval. How could you ensure these delegations and accountabilities are being consistently complied with? (Your answer should be between 90 to 110 words)

Question 4

The following is an extract from the Local government financial management regulations act 1993, part 4 section 11(e) and (f), it states:

(e) appropriate budgeting and accounting systems (including internal control systems) are established and maintained for the purposes of the council

(f) adequate measures are taken to protect the councils valuable securities and accounting records from loss, destruction, damage and theft.

Evaluate the guidelines you wrote and the councils internal control policy and procedure. Do they meet the requirements of this legislative? Provide justification for your answer.

(Your answers should be between 30 to 50 words)