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Q – 12
Consider how the organisation meets the needs of the stakeholders and how it
manages conflict between those needs
...
How the organization meets the needs of key stakeholders?
1
...
Company activities are audited by the internal auditors appointed by the
directors
...
2
...
Employees
Employees and subcontractors are always being reviewed and two ways
communication between management and employees is in exist
...
Auditors' responsibility
As auditors we are supposed to report any conflict through,
Audited Financial Statement
Management Letter
Factual finding reports
Q-9
How does the organisation finance its operations and for what reasons do you
think it has chosen these financial methods?
The most frequent financing methods through which organization finance its
operations are as follows
...
Delaying payments to suppliers
This would be the most cheep method of managing short term working capital
requirements
Q – 103
Question-In generating revenue, how does each department in the organization
contribute? How does the accounting department ensure that all revenue is
accounted for?
Any department can not be taken in isolation in generating revenue as each
department is providing specific services to facilitate the revenue generation function
without the help of all departments in an organization it would not have been possible
for a particular department to generate revenues in isolation
...
Finance department ensure that funds required to handle operations are supplied from
most economical sources and handle such tasks so that financing activities are done
smoothly
...
Further other departments like purchasing and distribution ensures that goods are
purchased from most economical sources and goods are distributed to specific
locations without any problems
...
Accounting department ensures that it accounts for all the transactions taken place
within the organization
...
Finally accounts department can play a significant role in the determination of the
organization and controlling the activities of the organization by looking at past
performance