Acctg / Finance

Accounting & Finance: 37 Questions.

Please select a response for each question based on your view as a memeber of the Accounting / Finance function.

Some question numbers are intentionally ommitted.

Esimated time to complete: 7-10 Minutes.

There is a text box at the end for any comments you may like to add.

* 3.Employees understand what behavior is acceptable or unacceptable, and know what to do if they encounter improper behavior.

* 4.Commitment to integrity and ethics is communicated effectively throughout the enterprise, both in words and deeds.

* 5.Employees do not feel peer pressure to cut corners to make a “quick buck.”

* 6.Management responds to violations of behavioral standards.

* 7.Disciplinary actions taken as a result of violations are widely communicated in the entity. Employees believe that, if caught violating behavioral standards, they’ll suffer the consequences.

* 8.Conditions such as extreme incentives or temptations that can unnecessarily and unfairly test people’s adherence to ethical values do not exist.

* 10.Management has determined to an adequate extent the knowledge and skills needed to perform particular jobs.

* 20.Management moves carefully, proceeding only after carefully analyzing the risks and potential benefits of a venture.

* 21.The information that managers need to carry out their responsibilities is reported to them.

* 22.Mechanisms are in place to obtain relevant external information—on market conditions, competitors’ programs, legislative or regulatory developments and economic changes.

* 24.Internally generated information critical to achievement of the entity’s objectives, including that relative to critical success factors, is identified and regularly reported.

* 25.The decentralized accounting function(s) operating management “sign's off” on reported results.

* 26.Managers receive analytical information that enables them to identify what action needs to be taken.

* 27.A mechanism (e.g., an information technology steering committee) is in place for identifying emerging information needs.

* 28.There has not been excessive turnover of management or supervisory personnel.

* 29.There is a frequency of interaction between senior management and operating management, particularly when operating from geographically removed locations by means of group or divisional management meetings or senior manager visits.

* 30.Management avoids obsessive focus on short-term reported results.

* 31.Personnel do not submit inappropriate reports to meet targets (e.g. salespeople submitting orders to meet targets, knowing customers will return goods in the next period).

* 32.Managers do not ignore signs of inappropriate practices.

* 33.The organizational structure is appropriately centralized or decentralized, given the nature of the entity’s operations.

* 35.The executives in charge have the required knowledge, experience and training to perform their duties.

* 36.Established reporting relationships—formal or informal, direct or matrix—are effective, and they provide managers information appropriate to their responsibilities and authority.

* 38.Management periodically evaluates the entity’s organizational structure in light of changes in the business or industry.

* 39.Managers and supervisors have sufficient time to carry out their responsibilities effectively.

* 40.Managers and supervisors do not work excessive overtime, and are fulfilling the responsibilities of more than one employee.

* 41.Job descriptions, for at least management and supervisory personnel, exist.

* 42.Authority and responsibility are assigned to employees throughout the entity.

* 43.The entity has an adequate workforce—in numbers and experience—to carry out its mission.

* 44.There is an appropriate balance between authority needed to “get the job done” and the involvement of senior personnel where needed.

* 45.Employees at the “right” level are empowered to correct problems or implement improvements, and empowerment is accompanied by appropriate levels of competence and clear boundaries of authority.

* 46.Supervisory personnel meet periodically with employees to review job performance and suggestions for improvement.

* 48.Job descriptions contain specific references to control-related responsibilities.

* 49.The level of attention given to recruiting and training the right people is appropriate.

* 50.Manager override is explicitly prohibited.

* 51.Deviations from established policies are investigated and documented.

* 52.Anonymity in reporting suspected fraud is permitted.

* 53.Persons who report suspected improprieties are provided feedback, and have immunity from reprisals.

Please add any comments. If the comment is about a specific question, please include the question number.