Dickinson Technologies, Inc.: Lack of Internal Control Structure
This report deals with an external audit of Dickinson Technologies, Inc. Dickinson Technologies Inc. is an international manufacturer of instruments, with manufacturing operations both inside and outside of the United States. Dickinson Technologies, Inc. has a net income which has increased each year, from $3.8 million seven years ago, to a projected $15.6 million in the current fiscal year. (Agoglia, Brown and Hanno, 2003) The audit revealed that Dickinson Technologies, Inc does not have strong internal controls as required by the AICPA (AU Section 316) and Sarbanes-Oxley Act of 2002. Furthermore, the corporate culture of Dickinson Technologies, Inc. does not foster a…show more content… Responsibility and delegation of authority are assigned in a formal, written manner. Job descriptions are specific and detail-oriented. Non-managerial employees seem to understand their role as well, and it appears to be properly communicated. Any deviation from established policies and procedures will lead to bad performance reviews and/or termination. All employees must sign a Code of Conduct upon hiring (required by Section 406 of the Sarbanes-Oxley Act of 2002 for management and its boards of directors, and by the SEC for all employees of public companies), however, there is no reference in the questionnaire of a periodic acknowledgment from employees to ensure compliance with all company regulations. Although this area could represent something management actually does very well, it does have its shortcomings. According to Albrecht, 5 ed., it is helpful to have employees read and sign their code of conduct on an annual basis. Management does not seem to submit reviews of Dickinson Technologies, Inc. various processes. Due to this lack of oversight, it is not clear that the defined responsibilities are actually being adhered to by the employees. Additionally, management does not appear to make any formal periodic assessment of the organizational structure. There are no specific actions formalized from the Board members to the management staff regarding adherence to
Rose Noel Eng. 101 Prof: Yen The minimum wage Time has change, so has technology, the prices of items and even real estate has changed. However one thing that hasn't change is the minimum wage. There are three classes in the United States which consist of: Poor, Middle and Upper class. The upper class usually own and run a business where the poor and middle class work for them, so paying them less money is better. The minimum…
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being hidden within wax tablets, to on the messenger’s body, to on the backs of couriers using invisible ink in World War I, to in Morse code on knitting yard, to on envelopes in the area covered by postage stamps, and during World War II Velvalee Dickinson sent information to accommodation addresses in neutral South America. Steganography is not just something that is used in the lab or something studied in academia. It has been stated in several reports that Steganography was used by the terrorist…
objective. Good Manufacturing Practices (GMP) Their manufacturing plant conforms to GMP, a WHO proprietary benchmark. The discipline of this standard is evident in the physical ambience of their plant, the air and water quality, manufacturing technology, packaging and the sterilization process. Ambience: Special micro and HEPA filters at all air handling units ensure minimal contamination in all manufacturing areas. Microorganism and particle concentration levels are carefully monitored by the…
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