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Tel: (612) 246-4616
Tel: (612) 246-4616
BUSINESS ENTERPRISE is a commercial, industrial, service, or investment entity, or a combination thereof, pursuing an economic activity.
STATUTORY AUDITOR is normally part of the internal audit function operating in one or more of the following areas: a. Review of the Accounting Systems and the related internal controls. Thus while the adequacy of the accounting systems is the responsibility of the Management, the Statutory Auditor is usually assigned the specific responsibility for reviewing the accounting systems and the related internal controls, as also monitoring their operations; b. Review of financial and operating information including identification, measurement, classification and reporting such information specifically enquiring into individual items including detailed testing of transactions, procedures and balances; and, c. Examination of the economy, efficiency and effectiveness of operations including non-financial controls.
TRIPLE P is a productivity model wherein the interrelationship between productivity, profitability and performance, as well as, effectiveness and efficiency are plotted in a schematic view where the main difference between these five terms can be captured.
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