I.T. Assesment of ABC Inc Essay Example | Topics and Well Written Essays - 1000 words

I.T. Assesment of ABC Inc - Essay Example The firm that is analyzed in the paper is ABC Inc., a multinational corporation based in the United States of America and deals with the designing and selling of computer software, personal computers as well as consumer electronics. The company has produced some of the well-known types of computers that are being used allover the world. The company has more the four hundred retail stores in fifteen nations, together with an online store. The company is the largest publicly traded worldwide by market capitalization. Whereby it overtops the Exxon Mobil by about sixty billion dollars, and also the largest and most popular technology corporation in the world in terms of profit and revenue, making it worth more than Microsoft and Google put together. As of November 20, 2011, the corporation had more than sixty five thousand permanent employees working around the clock and three thousand temporary full-time workers all over the world; its total annual sales hit the sixty five billion dolla r mark, moving up to one hundred and eight billion dollars in the year 2011. The company was even in the year 2008 named by the Fortune magazine as the most admired company in the United States of America. Therefore, this means that this is the biggest company in the industry of the production of computer-related products. The assessment of the company’s general control environment should be done determining the level at which the General Accounting Office management control standards are included in the plans, strategies, procedures and guidance that govern operations and programs. In its assessment, the following have been ensured (English 87). Compliance with the law: All costs, obligations and operations adhere to the applicable regulation and law. The allocation of resources is effectively and efficiently done for the rightly authorized purposes. Reasonable safeguards and assurance: The management controls give rational assurance that the company’s assets are prot ected or safeguarded against misappropriation, loss and waste. The management controls are rationally complete, logical, efficient and effective in the accomplishment of the objectives of management. Competence, attitude and integrity: Personal integrity is encouraged among the workers and managers. All personnel are compelled to support the programs of agency ethics. There is also effective communication between and within offices. GAO Specific Management Control Standards The following specific control standards have been addressed: Delegation of Organizational responsibilities and Authority: The management has ensured that there is appropriate definition and delegation of responsibility, accountability and authority in accomplishing the company’s mission statement. The company also has an appropriate organizational structure for the purposes of effectively carrying out the program responsibilities. Supervision and Separation of Duties: The key responsibilities and duties i n authorization, recording, reviewing and processing of official agency operations are separated or delegated among different individuals. There is proper managerial supervision for the purposes of ensuring that duties and responsibilities assigned to various individuals are not abused or exceeded (Albrecht and Albrecht 63). Accountability for and Access to Resources: There are some measures in place for limiting