Evaluate The Adherence To The Policies Of The Internal Control

Question: Discuss about the Evaluate The Adherence To The Policies Of The Internal Control. Answer: Introduction The different types of the considerations for the internal controls are seen to be based on the several types of the evaluation which has been able to state on the specific assumption of accounting and auditing process which has a relevance to assure the objectives of the organization in terms of the operational effectiveness and efficiency. The application of compliance and law along with the relevant policies is seen to be an important part of the application of the internal control on the process of auditing. A more holistic consideration of the internal control has been further applied with consideration of the control risk factors. The internal control adherence has been further discussed with the technical literature such as ISAs and other regulatory references. The company chosen to evaluate the adherence to the policies of the internal control has been further seen with Singapore Airlines Limited (Regoliosi dEri, 2014). Technical Literature of ISA The different types of the scope of International Standard on Auditing (ISA) have been seen to be dealing with the responsibility for the recognition and measurement of the risk of material misstatement in the financial records. This has been further based on the assessment of accepting of the environment and entitys internal control. The date of implementation of ISA has been further seen to be effective from the December 15, 2009. The main objective of the auditor is identified with the identification and the assessment of the risk of the material misstatement due to the material misstatements in the financial statement and assertion levels with the understanding of the entity and the environment. The entitys internal control has been further seen to be designed as per the implementation of the responses which has been assessed as per the material misstatement (Rikhardsson Dull, 2016). The main purpose of the attributes of ISA has been further seen to be base on the various types of the assumptions which has been seen to be associated to the assertions, business risk internal control, procedure for risk assessment and significant procedures. Among the different type of the attribute under the Isa the ain consideration for the internal control has been further seen to be associated to designed, implementation and the maintenance of the governance, management decisions and the other personnel for providing a reasonable assurance, which has been seen to be based on the accomplishment of the entitys objectives in addition to the reliability, effectiveness and efficiency of the financial reporting. ISA has been further able to consider the different types of the decision which has been seen to be associated complaisance and applicable legislations (Schroeder Shepardson, 2016). The entitys internal control has been taken into account as per the understanding of the various type of the process who has are seen to be based on the internal control which is seen to be relevant to the audit process. Most of the audit process under the internal control has been further seen to be associated to the financial reporting which is relevant to the overall audit process. Some of the main form of the components of internal control has been further associated with control environment (Mihret, 2014). In this particular aspect the auditor will be able to identify the various types of the measures which have been seen to be associated to the adoption the different types the measures for evaluating whether management will have the oversight of charging thee governance and maintain an appropriate culture with honesty and ethical behaviour. Some of the various types of the consideration of the internal control, has been further seen to be based on the strength and the procedure s conducive to the control environment and the different type the other elements which has been seen to be related to the consideration of the appropriate foundation of the components of the internal controls (Al-Akra et al., 2016). It also assures whether thee consideration of the various types of the internal control has been further able to provide the components undermined with the deficiencies of the internal control. As per the entitys internal controls, auditor will be able to understand the various types of the aspects of the internal control which has been seen to be relevant with the audit process and related to the overall financial reporting of the data, it has been further seen with internal control method which has been seen with various types of the matters which relate to the auditors professional judgement and the combination of the various type the other methods which has been seen to be having the relevance of other audit procedure (Zaman Sarens, 2013). Institute of Internal Auditors (IIA) The Institute of Internal Auditors (IIA) Singapore is considered with specialized organisation dedicated with the advancement and development of the internal audit profession. The main establishment of this has been seen to done in the year 1976, with the member of IIA Singapore as per the international community of 180000 professionals in more than 170 countries and territories are further seen to share a common vision for the advancement in the professional growth in the internal and the value addition process which has been further seen to be based on the depiction mainly related to the accounting, governance, compliance, security, information technology audit and internal control. The main mission of IIA Singapores mission has been discerned in terms of depicting the different types of the internal control measure which has been seen to be associated to the consideration of the advancement of the values to the organisations. The vision of the authority and the internal audit prof essional has been considered as indispensible with the effective governance, control and risk management (Mohamud, 2013). The Control Self Assessment (CSA) The only consideration for IIA Singapore can be applied with the Certification in Control Self-Assessment (CCMS). The first time user of CCMS has been able to see with the requirement of creating profile in CCMS. The visit in the forms section has been further seen to be based on the various types of the consideration which has been seen to be associated to the creation of new profile in CCMS. This has been further seen with the visiting of the forms section and selection of the application as per the choice. The main consideration of the CCSA deals with the topics such as business objectives, risk controls and fundamental processes (Leng Zhang, 2014). Achieving business results in Singapore Airlines Limited It has been discerned that Singapore Airlines Board has been committed with continuous enhancing of the shareholder value by maintenance of standard of corporate governance, strong internal control and risk management systems. The various types of the internal controls and the internal audit of the SIA are seen to be independent department with the report directly to the Audit committee. The internal control has been further based on the regular evaluations of the SIA groups internal audit based on the members of the Singapore chapter as per the internal auditors and meet the various types of the standards as per the professional practice set by Internal Auditing set by the IIA.s The control of the self assessment (CSA) programme has been established in FY 2003-2004 (Davidson et al., 2013). This has been provided with the management to obtain the various types of the assurance which has been seen to be associated with the operating departments management to review and per annum on the adequacy of the units control environment. It has been further seen with various types the internal audit is seen to be performed with the various types of the consideration of the independent and the random review during a p articular year to validate the results of self assessment (Church Schneider, 2016). The governance of the company has been seen to be co0ntinually maintaining of high standards related to high standards of CG practices along with various types of the professionalism, integrity, commitment level. This has been further seen to be underpinned by risk management system along with internal controls (Moeller, 2015). Conclusion (ISA) have been seen to be dealing with the responsibility for the recognition and assessment of the risk of financial records. This has been further based on the assessment of understanding of the environment and entitys internal control. The date of implementation of ISA has been further seen to be effective from the December 15, 2009. Internal control has been taken into account as per the understanding of the various type of the process who has are seen to be based on the internal control which is seen to be relevant to the audit process. Most of the audit process under the internal control has been further seen to be associated to the financial reporting which is relevant to the overall audit process. Some of the main form of the components of internal control has been further associated with control environment. The Institute of Internal Auditors (IIA) Singapore is considered with qualified organisation dedicated with the advancement and development of the internal audit profes sion. 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