Professional Documents
Culture Documents
Sunday through Wednesday from 6:30-8:30 p.m. 2011 BIF Start: Sunday January 29 For more information see:
http://www.business.illinois.edu/accountancy/programs/tutorcenter.html
Course Elements
GFP - Assignments
GFP - Process
What is control?
Control should help an organization reach its goals Those elements of an organization (including resources, systems, processes, culture, structure and tasks) that, taken together, support people in the achievement of the organizations objectives (COCO 1995)
Temperature sensor
Monitoring
Capability
COCO Framework
Purpose
Commitment
Capability
COCO Framework
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Applying COCO
Identify control system in place Specify ideal control system Assess the effectiveness of current control systems Identify possible missing controls
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Applying COCO
Criteria need to be interpreted in the context of particular objectives The criteria are goals to be worked toward over time; they are not minimum requirements The criteria are interrelated
Control elements cannot be designed or evaluated in isolation from each other
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COCO Limitations
Broad
Requires individual and specific adaptation/ interpretation
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Papa Johns Chilled/fresh delivery/storage Project next day usage Six feature inspection Secret shoppers/ Inspectors Why? Strategy: Superior quality (Freshness)
Pizza Hut Frozen delivery/storage Thaw and use labels Cookability bar/perfect pizza check Inspectors
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Same industry, direct competitors does not mean that strategies are the same
Maybe same ends, but not same means
If strategies are not the same, controls should not be the same
Controls should reflect strategy What works for one may not work for another (trade-offs)
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