Internal control systems within the framework of the 8th EU directive : Significance and implementation in companies

Björn Möller

ISBN 10: 3640734025 / ISBN 13: 9783640734023

Published by GRIN Verlag, GRIN Verlag, 2010

About this Item

Druck auf Anfrage Neuware - Printed after ordering - Master's Thesis from the year 2010 in the subject Business economics - Business Management, Corporate Governance, grade: 1,0, Anglia Ruskin University, language: English, abstract: This dissertation evaluates the significance of Internal Control Systems (ICS) within the framework of the 8th EU Directive. The author analyses the advantages, disadvantages, as well as impending conflicts and limits regarding the implementation process of an ICS in the regulatory environment of the EU. Possible theoretical implementation guidelines are elaborated on the basis oftwo commonly known frameworks for internal control, namely 1) the COSO Framework, which considers the general design of an ICS, except for detailed results of IT-based internal controls, and 2) the COBIT Framework, which provides details for the IT processes and their proposed controls.In addition, the author analyses the findings of a survey in which 27 internal control specialists, auditors, and internal control consultants participated.The results of the survey reveal that companies face a number of problems and challenges when aiming to implement and maintain an effective ICS. Similar to the findings in literature, the survey sample name the effort, resources, costs, and maintenance, as well as the acceptance, awareness, communication, design and complexity as the main challenges and problems an Internal Control System is confronted with. On the basis of the survey results,the author provides insights into determining an ICS' actual state, as well as its target state.Finally, the author of this dissertation proposes establishing an ICS project in order to create awareness for ICS, to structure the ICS process transparently and within an appropriate time frame. Furthermore, the usage of checklists and frameworks facilitates the implementation process of an ICS. It is recommended to use the COSO and COBIT Framework.

Seller Inventory # 9783640734023

Bibliographic Details

• Title: Internal control systems within the framework of the 8th EU directive : Significance and implementation in companies
• Publisher: GRIN Verlag, GRIN Verlag
• Publication Date: 2010
• Language: English
• ISBN 10: 3640734025
• ISBN 13: 9783640734023
• Binding: Taschenbuch
• Condition: Neu
• Dimensions: 210W x 148H x 8D millimeters 210 millimeters width by 148 millimeters height by 8 millimeters depth
• Weight: 157 grams

About this title

Synopsis

Master's Thesis from the year 2010 in the subject Business economics - Business Management, Corporate Governance, grade: 1,0, Anglia Ruskin University, language: English, abstract: This dissertation evaluates the significance of Internal Control Systems (ICS) within the framework of the 8th EU Directive. The author analyses the advantages, disadvantages, as well as impending conflicts and limits regarding the implementation process of an ICS in the regulatory environment of the EU. Possible theoretical implementation guidelines are elaborated on the basis of two commonly known frameworks for internal control, namely 1) the COSO Framework, which considers the general design of an ICS, except for detailed results of IT-based internal controls, and 2) the COBIT Framework, which provides details for the IT processes and their proposed controls. In addition, the author analyses the findings of a survey in which 27 internal control specialists, auditors, and internal control consultants participated. The results of the survey reveal that companies face a number of problems and challenges when aiming to implement and maintain an effective ICS. Similar to the findings in literature, the survey sample name the effort, resources, costs, and maintenance, as well as the acceptance, awareness, communication, design and complexity as the main challenges and problems an Internal Control System is confronted with. On the basis of the survey results, the author provides insights into determining an ICS' actual state, as well as its target state. Finally, the author of this dissertation proposes establishing an ICS project in order to create awareness for ICS, to structure the ICS process transparently and within an appropriate time frame. Furthermore, the usage of checklists and frameworks facilitates the implementation process of an ICS. It is recommended to use the COSO and COBIT Framework.