StudentShare solutions
Triangle menu

Risk Assessment Audit - Essay Example

Extract of sample
Risk Assessment Audit

This is especially on the employees who have major and significant problems in their places of work within the GE Oil & Gas Inc company. GE Oil & Gas Inc has gone on a considerable expansion program in West Africa and this has made it to encounter a lot of problem in relation to management and employee related issues. Audit report Petroleum and oil drilling and development together with it consumption has always been linked with widespread impact on the environment. Environmental impact occurs at all levels of oil and gas sequence but is apparent during upstream level of operations. The upstream level involves oil and gas exploration and production with impact such as accidental spills or atmospheric emissions. The environmental impact has conventionally not the focus on many players, and the oil and gas industry was not under immense environmental regulation for substance period during it operations. It is apparent that environmental regulation focusing on the oil and gas industry is a latest phenomenon only few years old. Housing accommodation The housing for the GE Oil & Gas Inc is structured to meet all the employer and employees requirements in the various differentiated departments. This housing accommodation is for the employees of the GE Oil & Gas Inc and also the employers who manage the activities in the region that the GE Oil & Gas Inc is located in West Africa. The housing accommodation is not sufficient for the entire large stuff that is increasing with the expansion of the exploration processes and activities of the GE Oil & Gas Inc company. This makes the different aspects of the housing accommodation to be a matter of concern that should be addressed within time since it is crucial to ensure than the GE Oil & Gas Inc’s workers have shelter in order to perform better in their respective job sections. The jobs that have been well served with housing accommodation adequately include those of the top management criterion. This includes the managing director and the board of directors that maintain and supervise on the other junior employees. This is not that it is unfair; it is just that the West Africa branch of GE Oil & Gas Inc is still starting and has not fully become functional. Other housing accommodations are being constructed and within no time the issue will be solved. The buildings to house the equipments and the relevant tools operated by the company have all been completed since they come first in the priority list. Recommendations The housing accommodation should be provided for all the employees that have it in their respective detail in their contractual terms with the GE Oil & Gas Inc company. The housing accommodation is however up to the level required and the houses have been constructed according to recommended architectural designs. The condition of the trucks The condition of the trucks is not appealing. This is in terms of the type and the age of the trucks used in carrying the products of GE Oil & Gas Inc Company. The trucks that are used in West Africa are very much worn out as is the norm in most African construction companies that are small scale. The GE Oil & Gas Inc Company has picked up some of this habits and it’s not pretty for the colossal company that has some considerable control on the oil and gas market in the global economy. The company is very much in shape when it ...Show more

Summary

Name: Course: Tutor: Date: Risk Assessment Audit Introduction The audit of the GE Oil & Gas Inc has shown possible contingencies that negatively implicate on the GE Oil & Gas Inc’s branch that is located in West Africa (Inkpen, et al, 2011). The audit has been entirely successful in assessing all the relevant matters as pertaining to the West African branch of GE Oil & Gas…
Author : hoegerwilbert
Risk Assessment Audit essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Risk Assessment Audit"
with a personal 20% discount.
Grab the best paper

Related Essays

Security Risk Assessment and Audit into the connection of the internal network with the Internet
In order to prevent the above from occurring, confidentiality, integrity, and availability of information has to be controlled through a careful process. Information confidentiality is maintained by preventing unauthorized persons from accessing vital system information.
18 pages (4500 words) Essay
AUDIT
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Legal Requirements to have or not to have an External Audit .
6 pages (1500 words) Essay
Audit
However, the fact that the underlying principle in auditing is the concept of ‘opinion’, leaves the process of auditing with much to be desired, considering that conflict of interests or biased opinions have arisen from the auditing firms in relation to the truthfulness and accuracy of the transactions and financial reporting of their clients, eventually resulting to financial crisis, scandals and company failures that could eminently have been avoided, should the auditing reporting and opinion have been fair and balanced (Deloitte, 2012 p2).
6 pages (1500 words) Essay
Audit framework
the scope of the external audit is determine is to implement generally accepted auditing standards. The auditing standards pertain to the standard of field work, general standards, and standards of reporting. Financial reviews are not accepted as part of the financial statements.
6 pages (1500 words) Essay
An Overview of the Auditing Process, The Risk-Based Audit Approach with in an AIS (Accounting Information System)
of information maintained by the company to formulate opinion on various accounting assertions and communicate the results to the users of financial information, needs to be carried out with an objective of determining the possibility of occurrence of the errors and
3 pages (750 words) Essay
Risk assessment
rvices, processes and production operation; subcontracting and purchasing activities; off site processes including delivery, installation and servicing; change management (product or process introduction and modifications); legal obligation compliance; and risk quantification
11 pages (2750 words) Essay
Beginning the Audit Report
pared and planned so that the Apollo Shoes staff and our audit staff members involved are well prepared to perform the audits from the outset (Puncel 2008). Our rationale shall be based on meeting the overall objective of our audit, which is to present an opinion on whether the
5 pages (1250 words) Essay
Risk Assessment for Non-profit Hospital
As per the reports, the virus downloaded ‘tons of porn documents’ and crashed all computers causing great dilemma. The incident clearly indicates how vulnerable hospital data is to identity theft. The
5 pages (1250 words) Essay
Enterprise risk assessment, audit, and Cyberlaw policy
The plan is intended to offer a navigable benchmark for developing a comprehensive standard that includes guidelines to guide the construction and internal auditing of a contemporary and capable cyber law policy. Within
10 pages (2500 words) Essay
Independent Study for Accountants: What is the internal audit coverage of the organisation's risk management and governance processes
It is identified promoting the internal audit coverage of these processes is a potential way to achieve greater operational transparency and to gain investor confidence. The major aim of this project is to
16 pages (4000 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation