control your management using SPAMSOAP Labels: managing people and systems spamsoap actually is a mnemonic word for eight types of control level.spamsoap can make our control in the office running smooth and clear. Segregation of duties each duties and task will be separate and should have different responsible running by different person.this will make each task will running effective and reduce the error in the task.function should be separated is RACES. RECORDING AUTHORISATION CUSTODY EXECUTION SYSTEM DEVELOPMENT AND DAILY OPERATIONS Physical control tight security and procedures is needed to control the access to assets and authorisation must be limited to authorised personnel. Authorisation and approval approval for every documents is needed and specified limitation to the authority. Management controls Five controls function which is ORIS Overall supervisory controls Review of management accounts and comparison with budgets Internal audit function Special review procedures Supervisory controls centralisation will help supervision across management and each transactions and recording can be supervise. Organisation as a control enterprises should have a planning,control and decision making in their organisation to defining and allocating responsibilities and identifying lines of reporting for all aspects of the enterprise's operations. specified in the delegation of the authority and responsibility should be clear. Arithmetical and accounting controls auditing job must be authorised. and correctly recorded and accurately processed. the controls include CTRACT Checking the arithmetical accuracy of the records The maintenance and checking of total Reconciliations Accounting for documents Control accounts Trial balance Personnel control person with the specific job must have specific responsibilities with capabilities appropriate. As far as fraud and error prevention are concerned, the establishment and maintenance of a good system of internal controls is and will still remain the best measure that can be taken to minimize or prevent fraud and error. Internal controls are those calculated conscious actions that an organization take so as be assured that reasonable assurance towards meeting her objectives are guaranteed, those objectives are to ensure that; Financial information (financial statements) are reliable, Operations are carried out in an effective and efficient manner, Companies assets are protected and Provisions of laws, rules and regulations are strictly adhered to In the bid to reduce or prevent fraud, companies set out control objectives that when achieved will mean a reduced level of prevalence of fraud. To achieve this, control goals/ objectives and control plans/ actions needs to be in place. While control objectives sets out what is acceptable, control plans are strategies put in place to achieve these objectives while be; preventive control plan, detective plan objectives or corrective control plan. For a business to achieve a reasonable assurance that her control objectives will be met, the above three control plans must be combined. However, preventive control is the one that helps prevent fraud and errors which is the subject matter of this article. ACCAMAPS A = AUTHORIZATION/ APPROVAL. Approval and Authorization must be obtained for every material project. Materiality is a relative term that is used to describe the influence the inclusion or exclusion of an item would have on a decision maker’s opinion. This approval must always come from an authorized person. C = COMPARISON. Figures should be compared. It could be on a; daily, weekly, monthly basis. Actual performance is compared with budgeted performance. This can also be called variance analysis. C = COMPUTER CONTROLS. Computer controls is of two kinds. Physical access controls and logical access controls. Physical access controls has to do with physical security measures taken to protect the computer, for example, keeping the computer in a locked room. Logical access controls are those measures taken to limit the use of computer and its resources. A = ACCOUNTS RECONCILIATION Stuffs like bank reconciliation, statement of financial position (balance sheet) reconciliation, receivables reconciliation, payables reconciliation and suppliers’ reconciliation can be performed on a fairly regular basis. M = MAINTAIN AND REVIEW CONTROL ACCOUNTS A lot of frauds and errors can be prevented by simply maintaining a control account that will be reviewed regularly. A = ARITHMETIC CHECKS This will help uncover minor errors that would have otherwise not been detected. Frauds also can be uncovered through this singular act. System should be put in place to re-calculate figures for possible errors or outright fraud. P = PHYSICAL CONTROLS Can anybody from anywhere walk into a company’s premise and do whatever he she likes? Controls must be in place to restrict this. Guards should be at the gate to monitor those that come in and out of the company. Smartcards can be used to restrict physical access to sensitive areas of a company S = SEGREGATION OF DUTIES Is a CRIME not to have proper segregation of duty in an organization. Though, employees might collude to perpetrate fraud or crime but, the presence of segregation of duty will at least give the perpetrators some extra work to do. A person that raise invoice should not be the same person that will dispatch and record sales. The above tips cover both the general, application and systems and control plans auditors and auditing Auditing and auditors has recently been assigned a new role by the unseen hands of business reality and challenges that is continually changing. Auditing and auditors new role is necessitated by the...