What are the five principles of an effective organization?
5 key leadership principles for the success of any organization
- Become the preferred provider to your markets.
- Establish the right tone at the top and institutional culture.
- Embrace a culture of continuous improvement.
- Hire people with good critical judgment.
- Face the brutal facts of reality.
What are the 6 principles of finance?
There are six basic principles of finance, these are:
- Principles of risk and return.
- Time value of money.
- Cash flow principle.
- Profitability and liquidity.
- Principles of diversity.
- Hedging principle.
What are the concepts of quality management?
Quality management is the act of overseeing all activities and tasks needed to maintain a desired level of excellence. Quality management includes the determination of a quality policy, creating and implementing quality planning and assurance, and quality control and quality improvement.
What are the basic principles and techniques of auditing?
Auditing – Basic Principles
- Planning. An Auditor should plan his work to complete his work efficiently and well within time.
- Honesty. An Auditor must have impartial attitude and should be free from any interest.
- Secrecy.
- Audit Evidence.
- Internal Control System.
- Skill and Competence.
- Work Done by Others.
- Working Papers.
What are the basic concepts of auditing?
The basic principles of auditing are confidentiality, integrity, objectivity, and independence, skills and competence, work performed by others, documentation, planning, audit evidence, accounting system and internal control, and audit reporting.
What are the techniques of audit?
Auditing – Audit Techniques
- Vouching. When the Auditor verifies accounting transactions with documentary evidence, it is called vouching.
- Confirmation.
- Reconciliation.
- Testing.
- Physical Examination.
- Analysis.
- Scanning.
- Inquiry.
What are the features of audit?
There are six essential features or characteristics of auditing are;
- Systematic process.
- Three-party relationship.
- Subject matter.
- Evidence.
- Established criteria.
- Opinion.