Amazines Free Article Archive
www.amazines.com - Monday, November 18, 2019
Read about the most recent changes and happenings at Amazines.com
Log into your account or register as a new author. Start submitting your articles right now!
Search our database for articles.
Subscribe to receive articles emailed straight to your email account. You may choose multiple categories.
View our newest articles submitted by our authors.
View our most top rated articles rated by our visitors.
* Please note that this is NOT the ARTICLE manager
Add a new EZINE, or manage your EZINE submission.
Add fresh, free web content to your site such as newest articles, web tools, and quotes with a single piece of code!
Home What's New? Submit/Manage Articles Latest Posts Top Rated Article Search
Google
Subscriptions Manage Ezines
CATEGORIES
 Article Archive
 Advertising (133320)
 Advice (160925)
 Affiliate Programs (34735)
 Art and Culture (73688)
 Automotive (145679)
 Blogs (75053)
 Boating (9840)
 Books (17188)
 Buddhism (4124)
 Business (1328538)
 Business News (426309)
 Business Opportunities (366263)
 Camping (10962)
 Career (72734)
 Christianity (15843)
 Collecting (11637)
 Communication (115055)
 Computers (241955)
 Construction (38996)
 Consumer (49680)
 Cooking (17061)
 Copywriting (6567)
 Crafts (18204)
 Cuisine (7538)
 Current Affairs (20387)
 Dating (45776)
 EBooks (19687)
 E-Commerce (48204)
 Education (185253)
 Electronics (83496)
 Email (6392)
 Entertainment (159830)
 Environment (28937)
 Ezine (3039)
 Ezine Publishing (5446)
 Ezine Sites (1550)
 Family & Parenting (110900)
 Fashion & Cosmetics (196389)
 Female Entrepreneurs (11842)
 Feng Shui (130)
 Finance & Investment (310272)
 Fitness (106102)
 Food & Beverages (62867)
 Free Web Resources (7938)
 Gambling (30225)
 Gardening (25106)
 Government (10513)
 Health (629514)
 Hinduism (2205)
 Hobbies (44040)
 Home Business (91556)
 Home Improvement (251348)
 Home Repair (46127)
 Humor (4823)
 Import - Export (5453)
 Insurance (45130)
 Interior Design (29546)
 International Property (3485)
 Internet (190983)
 Internet Marketing (146334)
 Investment (22824)
 Islam (1167)
 Judaism (1356)
 Law (80486)
 Link Popularity (4591)
 Manufacturing (20842)
 Marketing (98770)
 MLM (14136)
 Motivation (18213)
 Music (27003)
 New to the Internet (9479)
 Non-Profit Organizations (4048)
 Online Shopping (129616)
 Organizing (7803)
 Party Ideas (11855)
 Pets (38080)
 Poetry (2234)
 Press Release (12674)
 Public Speaking (5618)
 Publishing (7523)
 Quotes (2407)
 Real Estate (126620)
 Recreation & Leisure (95272)
 Relationships (87528)
 Research (16158)
 Sales (80321)
 Science & Technology (110219)
 Search Engines (23453)
 Self Improvement (153101)
 Seniors (6232)
 Sexuality (35942)
 Small Business (49284)
 Software (82995)
 Spiritual (23465)
 Sports (116079)
 Tax (7658)
 Telecommuting (34066)
 Travel & Tourism (307385)
 UK Property Investment (3121)
 Video Games (13428)
 Web Traffic (11727)
 Website Design (56822)
 Website Promotion (36567)
 World News (1000+)
 Writing (35769)
Author Spotlight
RAJESH THAPALIYA

I am in Nepalest tourism industery working since 2000 as a trekking porter to the senior tour leader...more
MAXWELL JIANG

My mission is to help one million people recover from their exes, to provide valuable information so...more
ANISH SAH

My Name is Anish Sah, I am an Internet Marketing and SEO Expert, Social Media Guru and young Entrepr...more
DELORES KEEPER

Delores Keeper has been playing chess for over 50 years. Some tournaments, some teams (when she was ...more
RAHUL JOHN

The venture glorifies your life with the essence of sumptuous features that carries you in the world...more


What wins in your department? by Sadie Hawkins





What wins in your department? by
Article Posted: 10/21/2013
Article Views: 526
Articles Written: 226
Word Count: 453
Article Votes: 0
AddThis Social Bookmark Button

What wins in your department?


 
Finance & Investment,Software,Research
The Segregation of Duties is imperative. So is the balance for good logistics and efficency too. But how can finance departments manage these time pressures?

Details, that's where!

The Devil is within the details. Yet, as its a case of details upon details, and time & time again, you may be too worried about the details and not the whole situation, regardless of how prepared you may be.

It is tough for even the competent preparer to eliminate cognitive bias (assuming you're right). Why? because it simply appears right.

It's also tough for anyone approving to eliminate cognitive bias - because not only does it look right to them too - however wasn't it done by a talented preparer?

Segregation of duties (or Separation of Duties) is essential to effective control because it reduces the chance of mistakes and inappropriate actions, and since it helps fight fraud by discouraging collusion.

The Segregation of Duties is important for the Audit trail function. for example, it ought to be possible for a reviewer (internal or external, like a hired Public Accountant) to recreate what went on by whom, when and how.

The second approver must fulfil consistent functions: to take up a ready reconciliation, check its details, and to drill all the way down to see what has been done and check it. If correct, the approver will securely sign it off.

But there has to be a balance. A between Segregation of Duties and therefore the enlarged effort and price it takes.

After the scandal of Enron, where the Sarbanes Oxley Act being a prime example of legal consequences for those within the financial department, it has become so crucial that reported numbers are correct.

Due to this importance, not only do they have to be correct, we also must be able to display that the procedures are too - any faults must be caught internally.

But we can't always do this.

Reconciliations are frequently processed in Excel. You might have read and write files, but is it one person processing the data?

How can you be safe in the knowledge that no-one else comes in and changes anything? How can you be sure numbers are not erased accidentally or tampered by someone else?

Some say it's printed and signed off reports that can prove this. But in order to properly check and approve the required documents, the calculations behind the end results, you will need to be able to go into that account details to check - and having it all on paper makes it very very time consuming.

Balancer from Adramatch can be used to dissolve all the needs described above, with a Segregation of Duties already built in.

Related Articles - Financial Reconciliation, Account Reconciliation, Reconciliation Software,

Email this Article to a Friend!

Receive Articles like this one direct to your email box!
Subscribe for free today!

 Rate This Article  
Completely useless, should be removed from directory.
Minimal useful information.
Decent and informative.
Great article, very informative and helpful.
A 'Must Read'.

 

Do you Agree or Disagree? Have a Comment? POST IT!

 Reader Opinions 
Submit your comments and they will be posted here.
Make this comment or to the Author only:
Name:
Email:
*Your email will NOT be posted. This is for administrative purposes only.
Comments: *Your Comments WILL be posted to the AUTHOR ONLY if you select PRIVATE and to this PUBLIC PAGE if you select PUBLIC, so write accordingly.
 
Please enter the code in the image:



 Author Login 
LOGIN
Register for Author Account

 

Advertiser Login

 

ADVERTISE HERE NOW!
   Limited Time $60 Offer!
   90  Days-1.5 Million Views  

 

Great Paranormal Romance


STEPHEN BYE

Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through The...more
STEVERT MCKENZIE

Stevert Mckenzie, Travel Enthusiast. ...more
LAURA JEEVES

At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
GENE MYERS

Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
KIRAN KAUR

Kiranpreet (Kiran) Kaur, D.D.S., who received her Doctor of Dental Surgery degree from the prestigio...more
MICHAEL BRESCIANI

Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more
STEVE BURGESS

Steve Burgess is a freelance technology writer, a practicing computer forensics specialist as the pr...more
SUSAN FRIESEN

Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media...more
TIM FAY

I am not a writer nor am I trying to become a writer. I am an average person with average intelligen...more
JOANNA MORGAN

Joanna Morgan has a huge passion for making money online from home and enjoys traveling around the w...more

HomeLinksAbout UsContact UsTerms of UsePrivacy PolicyFAQResources
Copyright © 2019, All rights reserved.
Some pages may contain portions of text relating to certain topics obtained from wikipedia.org under the GNU FDL license