Hewlett Packard Case Study

To whom it may fear: After research and investigating the WorldCom Corp. we launch determined an analysis of things that need to be improved upon in order to have a more secure and creditworthy accounting and finance department. In interviewing employees, we have get caution that the different finance departments be not in as much talk with each than what is needed, which too often carry and do not see a need to exceed with each other. This issue needs to be resolved as there needs to be a more mainstream chat with al people in the finance department involved. This includes supervisors and managers who mete out different parts of the finance department. The next thing we cheer on is that all managers manage what controls be in purpose end-to-end the entire finance department. Only two of the 5 managers interviewed knew of any(prenominal) controls in place in their department only. Managers must know what controls are in place and recognize how to detect invention using those controls train in place. If controls are not recognize and put into place, then there will be a greater risk for fraud within the company.

Also, managers need to pose at establishing who may be doing multilateral cash deposits as we learned, the person that records all deposits is also the one making the mingled cash deposits each week for the company. There is not restrict control of job separation here and there most definitely needs to be. Managers also need to focus on consolidating responsibilities as there are currently too more accounts payable and accounts rec eivable personnel performing the same jobs o! n a daily basis. While overlapping can be good, in this case no one is actually rove others work and therefore the same work could be do by one or two people. Good things are happening however with WorldCom with their canvasss. Arthur Anderson is conducting these analyses and turning them over to the internal audit committee at WorldCom. During...If you want to get a fledged essay, order it on our website: BestEssayCheap.com

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