Outsourcing the Internal Audit Function - Research Proposal Example

The content of this letter is the conclusions drawn by the certified public accountant concerning the accounting procedures and policies of a company, its internal policies, as well as the internal controls.... The content of this letter is the conclusions drawn by the certified public accountant concerning the accounting procedures and policies of a company, its internal policies, as well as the internal controls.... Nevertheless, the letter reflects the recommendations and concerns of the auditor that he might have come across during the audit process....

Segregation of duties is a policy control system in which no person is given responsibility in more than one given related function.... The service providers of payroll services manage a diverse function of calculations relating to salaries and wages, the distribution of funds that have been held to the different agencies of the government, withholding taxes and making deposit of the net pay to the different bank accounts (Elliott 28).... It is also a procedure or method which is established by an organization as a check on internal activities....

The Critical Path Method (CPM) is one the most widely used network techniques for project management.... In CPM, the activities are represented as per the sequence of their appearance and is based on the duration of the activities.... But often the duration is influenced by resource constrains too....

KPMG provides appropriate resources and technological tools required for supporting the internal controls within those companies.... KPMG is a global network of professional services like firm offering services like audit, advisory and tax services to its clients in 144 countries with the help of around 137,000 strong workforces.... The organisation is divided into three main functional areas namely;audit: This division provides independent auditing services to a number of companies....

Significant cost savings, cost restructuring, an improvement in overall quality, access to a greater pool of knowledge, the existence of a legally binding contract, operational expertise that would otherwise be too expensive, the solving of staffing issues such as a small and dependable internal talent pool, improved capacity management, providing a catalyst for major change, reducing the time it takes for a product to reach market, commoditization, improved risk management techniques, the ability to operate 24/7 because of various time zones, and the pressure that is being placed on a company by customers which may only be solved through outsourcing (Wikipedia, 2008)....

The Chief Executive Officer of the company identified the need for strategic alliances both within the internal and external policy framework to gain a competitive business position in the climate of globalization.... These organizations operate with some special objective in view for which these organizations differ along several… Negotiation between the members carries on in regards to the function of sharing resources from the automatic pool of resources constructed In citing an example of virtual organization, the case of an engineering company, John Brown Engineers and Construction concern comes into question....

Advertising is a major business function, which helps organizations to promote their product.... outsourcing is a new concept developed across business circle because of the development of internet related technologies.... outsourcing helps, these companies to exploit the cheap labor in overseas markets so that they can compete effectively with Indian and Chinese companies.... Communication, advertising, development of new business concepts such as ecommerce, outsourcing etc are some of the major contributions of internet to the business world....

The main objective of the research is to identify the leadership practices that are involved in the development of a positive work culture in a setting where the internal and outsourced employees work concurrently.... The research paper chosen for the review is ‘Developing corporate culture in a training department: a qualitative case study of internal and outsourced staff ‘ by Querubin S.... This paper indicates that there are certain strategies of cultivating a positive corporate culture in an These strategies should take into consideration factors like outsourcing activities and the development of leadership skills....