Corporate Compliance Report for Home Depot

Corporate Compliance Report for Home Depot

  • Submitted By: frasierss
  • Date Submitted: 02/03/2009 8:58 PM
  • Category: Business
  • Words: 2319
  • Page: 10
  • Views: 939

Running Head: CORPORATE COMPLIANCE REPORT

Corporate Compliance Report

University of Phoenix

Corporate Compliance Report

In today's business environment, many organizations have been targeted each year by the federal government and have faced many challenges when dealing with corporate compliance due to confusion among regulators, business people and legislators as the term "internal control" is viewed upon and defined by people differently. Diverse expectations and miscommunication has cause major problems for several organizations. A major area of concern for the government with many organizations has been their internal control policy over financial reporting which has magnified in recent years.

The federal government intends for all audit committees to gain complete understanding of the operations of internal control, what it is and is not, and how to use it effectively over financial reporting. Companies dealing with corporate compliance and corporate governance should implement a system to deal with all compliances. In doing so, the company is trying to determine the best course of action or alternative by developing a corporate governance or internal control system; a process that should be developed to integrate and analyze a system that works for the company. A preventive solution should be the next step for the company as it incorporates risk mitigation for compliance techniques that includes utilized systems and organizations. By developing a corporate governance system and appropriate internal control system, the company will finally begin to implement its enterprise risk management system.

Home Depot internal audit services deliver a premium that enables its business to attain advanced performance. Established by Author Blank and Bernie Marcus in 1978, Home Depot the largest retailer in home improvement came into fruition in 1979 with the opening of their first store and has expanded since then employing over...

Similar Essays