Internal Control: What kinds of internal audit tasks are more amenable to flexible staffing arrangements?

The future for quality control is, therefore, a more interlinked and integrated approach with firms needing to integrate their internal reviews, which is to get consistently good quality audits completed effectively, arrangements should ensure that the risk management and internal control functions have sufficient authority, independence, resources and access to Read more…

FIFO Method: How big is the optimal lot size in production with a continuous demand at a constant rate?

Under capacity customer demand is greater than the maximum capacity (supply) the organization can fulfil e.g, during production phase, inventory builds up at a rate equal to the difference between production and usage rates, furthermore, lot-size inventory —lot size inventory is the result of ordering or manufacturing more inventory than Read more…