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Improving Transactional Processing in AIS - Research Paper Example
Finance & Accounting
Pages 6 (1506 words)
Transactional Processes (Author’s name) (Institutional Affiliation) Innovative Technologies a) Compliance Checking Systems A compliance check is used to identify departments or processes that have failed or are failing to adhere to company rules, regulations and policies (Gelinas, 2010)…
Purposes of Compliance Checks/Checking Systems a) Enforcement: to enforce company administrative policies, criminal statutes or both. b) Educational: to warn, educate and identify processes, departments or employees that are not meeting required standards. Implementing Compliance Checks/Checking Systems Employees, departments and various are made aware that compliance checks will be conducted at different times annually. They are also informed about potential penalties for lagging behind in the uplifting and maintenance of accounting regulations, standards and requirements (Williams & Spaul, 2011). If employees and personnel keep flaunting or falling short of accounting standards, the company can issue citations either to departments or specific people. These citations stipulate actions that may be taken to address such matters and how they will be addressed so that normal operations are maintained. Importance of Compliance Checking Systems In many companies, maintaining relevant accounting standards is a huge challenge. Employees and company officials may find it easier to come up with compliance checks than to maintain them. ...
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