Importance of Information System Auditing

Importance of Information System Auditing Evaluation of Effectiveness of Auditing of Information System within Corporate Governance Structure in the UK business organizations. Abstract This dissertation will research and review the conceptual framework of effectiveness of auditing (internal audit) of information system within the Corporate Governance structure, where information technology is deemed a key to system success or failure. The paper will then aim to focus on case study approach on two industry sectors in UK to explore a within correlation within effectiveness of Audit function and Corporate Governance structure through a lens of clear transparent information flow and system by means of technology innovation through accountability. Introduction The overall focus of this dissertation is around the critically analyzing and evaluation of auditing of information system in corporate governance structure with strategic significance of information and technology. Auditing of information system is sometimes referred as IT auditing that in modern language that states flow of information processes throughout the organization that is integral part of strong and affective corporate governance. Information integrity and disclosure is the key to successful governance. Corporate Governance has accomplished developing acknowledgment in recent years in light of financial reporting scandals, for example, Enron, WorldCom and Parmalat, which lessened trust in the freedom and unwavering quality of the auditing profession involved, as well as the accounting profession and financial markets all in all (Ibrahim El-Sayed Ebaid, 2011). Inside this structure of present day business world, the part of an inner control framework is synergist since it is viewed as a source from which center capacities are given or drawn and are in this way changed into upper hands. Be that as it may, the pivotal part of internal auditing for the business accomplishment, there is no such a review examining the collaboration between internal auditing and corporate governance (Karagiorgos et al., 2010). For the above reasons the motivation behind this research is to focus on the evaluation of effectiveness of Auditing of Information System within Corporate Governance Structure in th e UK business organizations. Auditing is one of the fundamental components for the effective working of the business and makes a difference an association to confront the outer world with exact data on its business and issues identified related to accountability. Initially auditing function was essentially concerned with just the money and finance related issues inside the business that is accounts for the business. Evidently, the income created by the organization and the costs related are the major contributing variables for decision making on the tax and shareholder benefits. Close by, the development of data innovation (IT) and the expansion in people in general awareness has assist heightened the requirement for directing a proficient auditing procedure to give accountability to their business exercises. It is also vital that the corporate governance of an organization is fundamental for the advantage of the partners as well as for the financial dependability in the business showcase and in addition the whole country. This research is aimed to display a critical research and evaluation of effectiveness of Auditing of Information System within Corporate Governance Structure in the UK business organizations. The research will toss light on the different perspectives identify with accomplishing adequacy in through evaluating information system as one of the component of corporate administration and basically investigations of the innovation and technology on information transparency. Aim and Objectives The focal point of this thesis will be to analyze the productivity of auditing of information system framework in the corporate administration among the UK business associations. This will be accomplished by the research on the following aim and objectives. To appraise the phenomenon of corporate governance and its effectiveness for an organization both inside and outside to the business. Critically analyse the role of information and development of information system frameworks within the scope of corporate governance. Research Definition The research will be refined and focused utilizing using secondary information resources only. This is mainly due to the fact that a general public opinion on the auditing of information system may be inappropriate and deficient as the business organizations may not disclose their corporates sensitive information apart from that is published in the annual submissions/report due to data protection and privacy (Leung, P.et al 2004).Thus the investigation through case study will be completely subjective in nature (i.e.) the exploration is based upon the journals and published white papers as opposed to utilizing primary information for measuring the analysis. The contextual critical examination will be led upon the vital energy and banking domains of the UK economy. While a basic investigation on HSBC bank Plc will be displayed under the banking area, National Grid Transco, Plc is the organization in question for the Energy segment of the UK. The contextual investigation on these organizations will give critical insight on the utilization information technology and the organizations endeavor to fulfill viability of effectiveness of auditing of information system related outcomes for corporate governance. Corporate governance context There had been much written and researched about corporate governance, IT audit, and Information system in literatures recently, but most research has been done considering one or two variables from different angles, such as Corporate Governance and Auditing, IT audit and Corporate Governance, Information System and Corporate Governance etc. Less been written from information perspective to explore Information System Audit and Corporate Governance viability specifically by use of technology in modern era of corporate world, that is the fundamental aim of this research. Following literature research explain and explore more about the individual concepts that prove essential ingredients to successful stewardship of the business. According toToffel, M.W. (2006), states that investors expression of need for information relevant to companys economical information is not just raw accounting data but interpretation lying within. He further states that asymmetric information and potentially adverse disclosure prompts a question mark to capabilities of corporate governance structure of companies.Baek et al. (2008) argues further that directors consider that they have disclosed full information that is required, yet most experts and financial specialists assert that they ought to try to do as such. Another aspect of delivery of information through the use of information system is e-commerce that is very popular and proved to be effective communication channel without side world, i.e. stakeholders. Yabing et al., 2010 concluded in his study that there are considerable number of organizations which dont utilize their websites to convey significant financial data to the external stakeholders users. A current review that has an example with 30 traded organizations disclosed that a great deal of organizations utilize their website in inappropriate way, particularly to communicate information considering corporate governance that pose a question to the stewardship of organization as a whole. To overcome this weakness and to mitigate potential risk to corporate governance auditing plays vital role by assessing overall information system of the organization. A vital clarification between governance and administration is made by Bird, F. (2001), states that while managers and officials control, create, monitor and execute business objectives on an everyday basis, directors and other board structures manage overall business strategy, culture and course. He further states that Executives manages organizations by morality of the authority commissioned to them by owners of the organization, hence making a strong contrast between the assorted components of corporate governance and management. Auditing Information System In modern IT era, the audit process quality within the organization have become an integral and fundamental part of corporate governance quality and transparency. As respects to this, the nature of information systems auditing has likewise accepted a parallel to that. The inherent feature of information systems auditing, and the abilities fundamental to do such reviews, ideally require all around substantial norms standards that execute particularly to information systems examination scrutiny. The amalgamation of Information Technology audit, arranging and methodology with corporate governance and the key utilization of data frameworks (IS) have been of topical subject to administration management experts and IT scholars for quite a while. The move of accentuation can be connected to changes in availability and cost execution proportions in innovation/technology. It can likewise be identified with subsequent changes in potential applications. The converging of hardware and interchanges innovations, and the more far reaching utilization of databases, systems, and coordinated frameworks requiring long-term audit and planning viewpoints, addit ionally fortified for powerful arrangement from corporate governance perspective in UK. IT Governance Kingsford, R., Dunn, L. furthermore, Cooper, J. (2003) states that Information Technology governance is referred to as a sub-set of corporate governance. It appears to be logical then that the meaning of corporate governance will give a helpful start off to an investigation of the definition and proper utilization of the term IT governance. One domain is the relatively recent focal point on corporate governance and the other is strategic information systems within the organization. Web, P. Pollard, C., Ridley, G. (2006),  Ãƒâ€šÃ‚   Attempting to Define IT Governance:   Wisdom or Folly? Strong governance has for some time been viewed as urgent for improving the long-term value of stakeholders in the organizational domain. In the new innovation driven information age, strengthen corporate governance is considered exceptional best practice and a key segment of market train. Recent demand from stakeholders, shareholders and others owners of business, for more prominent responsibility from corporate board and audit committees that will probably upgrade the nature of corporate stewardship and in the end prompt to more productive capital markets. However, Sarbanes Oxley report in US and the Cadbury Code in the United Kingdom that requires that audit committees adhere to certain professional guidelines rules (e.g., internal controls risk reporting requirements and disclosures), there are few generally acknowledged standards for good governance within the organization. Role of Information in Information System Audit Corporate Governance Ward, J. Peppard, J. (2002) argued that the information systems in a business enterprise not just incorporates the innovation and technology related items additionally those segments of the business that infect process and create yield from the information like the costs, income and purchases. Moreover, they emphasized that the vital utilization of information to encourage effective decision making by the senior administration of the organization, that certainly build the need to distinguish critical information and in addition keep up transparency of the information to furnish independence and accuracy with quality. Information system has seen vital development in each circle of business with the expansion in the competition and innovation technology (IIA, 2004) Christopher Barnatt (2000) contends that the corporate governance in a business organization despite the fact that grasps the reviewing of the fund and income building up a responsibility, predominantly relies on the information that is underlying the income streams or the cost brought about since the financial related measurement by the organization is construct upon the real information with respect to their everyday business. This further makes it clear that information is not just assumes a critical part in dealing with the review auditing information but also a key part in approving the crucial information that is really used to represent the income inside the organization. The above proclamation obviously clarifies that the data innovation (technology) in stepping stone for the business processes and income apart from just the element of client relationship etc. John Ward (2000) argued that the information system in a business domain with reference to corporate governance of the organization gives the underlying contributing milestone to the accountability of income transparency of the overall business. Furthermore, he poses the fact that the likelihood to give false information to cover any major issues inside the business will at the end may influence the corporate governance of the business. It is evident from the argument above that the innovation technology underlying information processing itself required to be formulated and validated in order to approve privacy and to counteract unapproved access to the data. References: Bird, F. (2001), Good governance: A Philosophical discussion of the responsibilities and practices of organizational governors, Canadian Journal of Administrative Studies, No. December,   298-312 Baek, Y.H., Kim, D., Kim, J.W. (2008) Management Earnings Forecasts and Adverse Selection Cost: Good vs Bad News Forecast, International Journal of Accounting and Information Management, Vol. 16, Issue 1, pp. 62-73. Christopher Barnatt, (2000), Management Strategy and Information Technology, Text and Readings, Thomson Business Press Ibrahim El-Sayed Ebaid, (2011) Corporate governance practices and auditors client acceptance decision: empirical evidence from Egypt, Corporate governance, 11(2), pp. 171-183. Institute of Internal Auditors UK, (2004), IT Audit, UK John Ward and Joe Peppard, (2002), Strategic Planning and information Systems, 3rd edition, John Wiley and Sons Karagiorgos, T., Drogalas, G., Tampakoudis, I. and Gotzamanis, Ά¢. (2010) Internal Auditing as an effective tool For Corporate Governance, Journal of Business Mgt, 2(1), International Science Press. Kingsford, R., Dunn, L. and Cooper, J. (2003), Information Systems, Information Technology Governance and Organizational Culture, in 14th Australasian Conference on Information Systems, Perth, Australia. Leung, P., Cooper, B.J. and Robertson, P. (2004) The role of Internal Audit in Corporate Governance and Management, RMIT Publishing, Melbourne. Toffel, M.W. (2006) Resolving Information Asymmetries in Markets: The Role of Certified Management Programs, Working paper, Division of Research, Harvard Business School, Vol. 7. Web, P., Ridley, G., Pollard, C. (2006), Attempting to Define Information Technology Governance:   Wisdom or Folly? 39th Hawaii International Conference on System Sciences 2006, Australia Yabing J, Viju R. and Wullianallur R. (2009), Web-Based Corporate Governance Information Disclosure: An Empirical Investigation Volume 22, Issue 2. 19 pages

Socio and Economic Factors in Global Business Essay -- GCSE Business M

Socio and Economic Factors in Global Business When a company decides to take their business international, there are many different sociological and economic factors that they need to take into account. There are differences in management styles, international laws and treaties that regulate international business, as well as cultural customs that come into play. Each of these are significant and needs to be taken into account in order to minimize potential problems. Many times, lack of knowledge can create serious problems. Although there are a myriad of socio- and economic factors, this paper will focus on three key ones: 1) political barriers; 2) labor practices; and 3) cultural barriers. Additionally, real world examples will be offered on how some businesses have successfully overcome these barriers. Political Barriers For purposes of this discussion, political barriers refer to the geo-political situation of a country, as well legal barriers such as tariffs, taxes, etc. Countries set up barriers to foreign entities conducting business within their borders (especially imports and exports) for several reasons. Duties and taxes can create some government revenue. If there is a high tariff then there will be less exporting, therefore more of that product in the country, thus making the price of that product in the country lower since there will be a greater supply. So trade barriers can be helpful to a country. On the contrary, trade barriers can have a negative effect on a country as well. Consumers will have to pay a higher price on imports, and for similar products produced in the country the price will rise due to consumers buying the imported products. In order to regulate the barriers on international trade, there have been organizations formed. GATT (General Agreement on Tariffs and Trade), W TO (World Trade Organization) and NAFTA (North American Free Trade Agreement) are just a few examples (Czinkota, 1999). Other considerations in overcoming political barriers are the governments themselves. Conducting business in Cuba is virtually impossible for American companies probably until the fall of the Castro regime. Domestic and international pressure on human rights, governments considered to be corrupt or "illegal" may also hamper an organization’s ability to do business in certain regions of the globe. Although these factors... ...zed crime, etc (Fortune Small Business, 2000). Conclusion This discussion has highlighted but a few socio- and economic factors that must be considered when deciding to conduct business in a foreign country. As one can demise, the risks are there, but the potential for profit is very alluring. With prior proper planning, the risks can be limited. However, it will serve businesses well to incorporate economic factors into their overall global business strategies. References Czinkota, M., Ronkeinen, I., Moffett, M. (1999) International Business. Fort Worth: The Dryden Press DSN Retailing Today (2001, June 5). Open trade in billion-man market creates empire of opportunity. Economist (1997, June 21). 99% perspiration. Vol. 43, Issue 8022. Fortune Small Business (2000, April). East meets Mex. Hofstede, G. (1984). Culture’s Consequences. Beverly Hills, Ca: Sage Publications. Orange County Business Journal (2001, April 23). OC companies do business in China over tea, gestures. Winter, D. (May 2000). Facing globalization. Ward’s Auto World. Vol. 36, Issue 5. (www.doc.gov) (www.opic.gov) (www.usatrade.gov)

Eight phases of moon

The side of the moon that is facing the Earth is not lit up by the sun. At this time the moon is not visible. Phase 2 – Waxing Crescent – A small part (less than 1/2) of the moon is lit up at this point. The part that is lit up is slowly getting bigger. Phase 3 – First Quarter – One half of the moon is lit up by the sun at this point. The part that is lit up is slowly getting bigger.Phase 4 – Waxing Gibbous – At this time half of the moon is lit up. The part that is lit is slowly getting bigger. Waxing means to slowly get bigger. Phase 5 – Full Moon – The side of the moon that is lit up by the sun is facing the Earth. The entire moon is lit up at this point. Phase 6 – Waning Gibbous – The moon is not quite lit up all the way by sunlight. The part of the moon this is lit is slowly getting smaller. Waning means to slowly get maller.Phase 7 – Last Quarter – Half of the moon is lit up but the sun. The par t that we can see lit up is slowly getting smaller. Phase 8 – Waning Crescent – A small part of the moon is lit up at this point. It is getting smaller by the minute. Did you know that a full moon can happen twice in one month? When this happens, the second full moon of the month is called a Blue Moon! eight phases of moon By tongietobes

The Importance of Conflict Management Essay - 2305 Words

The Importance of Conflict Management But we cannot avoid conflict, conflict with society, other individuals and with oneself. Conflicts may be sources of defeat, lost life and a limitation of our potentiality, but they may also lead to a greater depth of living and the birth of more far-reaching unites, which flourish in the tensions that engender them. -Karl Jaspers The amount of entropy in corporate America has increased substantially because of two basic reasons. The first involves the immigration of a large and continuous population of ethnic, migrant workers from different corners of the world. These knowledge workers are products of varying, and at times diametrically opposing environments that in turn, affect†¦show more content†¦As corporate America enters the next millennium, it is faced with the increasingly difficult task of integrating these varying opinions, climates and management styles to produce an environment that supports the company ¡Ã‚ ¦s long term ¡Ã‚ ¦s goals. This process of integ ration is better understood by studying the science of conflict management. A Conflict is a process that encompasses all kinds of antagonistic interactions (passive resistance to overt aggression) among people, designed to inhibit the attainment of goals of another party that has dissimilar and incompatible objectives. Conflict management involves resolving these negative processes through communication and compromise. It is the art of persuading two antagonistic parties to come to a workable solution on a debatable subject to attain a common goal. This paper performs an acute dissection of organizational conflict. It emphasizes that a certain amount of conflict is necessary for corporations to constantly innovate and survive in a turbulent environment. Particular attention is devoted to organizational metamorphoses in mergers and in trade negotiations between the U.S and Pacific-rim countries, as they both present cases of differing organizational cultures and ideologies. PERSPECTIVES IN CONFLICT ANALYSIS Conflicts can be analyzed from five different perspectives, beginning from the individual level, up to the organizational level. It starts at the individual levelShow MoreRelatedConflict Management, Interpersonal Communication, And Motivational Theories1106 Words   |  5 Pagespresented concepts of conflict management, interpersonal communication, and motivational theories and their significance to the overall success of an organization. As we dig deeper into the material for leadership and management, the shining theme throughout our readings has been self-less leadership (Satterlee, 2013). This week, we focused on the importance of interpersonal communication, and conflict management. 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