Why do organisations have SOPs (Standard Operating Procedures) for information management systems? Q 1.1c How will you
Question:
Why do organisations have SOPs (Standard Operating Procedures) for information management systems?
Q 1.1c
How will you ensure high levels of accuracy and productivity with data entry activities?
Q 1.2
What are the steps and basic functions of the purchasing system?
Q 1.3a
Explain the roles and objectives of internal control procedures for actioning a payment to a creditor.
Q 1.3b
What are your responsibilities as an employee working under corporate governance and internal control procedures?
Q 2.1a
What is a payment facility?
Q 2.1b
How can you ensure accurate processing of a payment facility?
Q 2.2a
How should you deal with confidential information?
Provide three examples of breaches of confidentiality.
Q 2.2b
Information security is vital for adherence to corporate governance. What is the impact on the business of non-compliance to internal control?
Q 3.1a
What information is to be collected when verifying documentation for payments?
Q 3.1b
What are five reasons an organisation will have strict internal control procedures for payment authorisations?
Q 3.2
List five common discrepancies.
Q 4.1b
What are the essential obligations based on legislation, standards and codes that all Australian businesses must adhere to?
Q 4.1c
As an operator within financial services, describe your obligations as an individual under the Australian laws, codes and regulations as described in this section.
Q 4.2b
Describe an authorisation procedure for the major payment methods used.
Q 4.2c
What should you do if you receive an update from a supplier explaining changes in their trading details?
Q 4.3b
Why is it important to note the primary documentation as received in the accounting system?
Q 5.1
Why is it important to use a combination of hard and soft copy files in your record-keeping systems?
Q 5.2
Describe the procedures for filing documentation associated with a payment.
Expert Answer:
Q 11c To ensure high levels of accuracy and productivity with data entry activities you can implement the following measures 1 Doublechecking Always review your data entry work before finalizing it Ch... View the full answer
