Question

Mention any symptoms of inadequate control

Answer 1

If for some reason a comprehensive internal audit cannot be used, a checklist for inadequate monitoring symptoms may be used. Kreitner has listed some of the following common symptoms:
1. The inexorable decline in revenue and profits.

2. Construction of the service (customer complaint).

3. Employee dissatisfaction (complaints, frustrations, profits).

4. Estimation of deficits caused by inventories or overdue receivables.

5. Material or personnel issues.

6. Staged operations (difficulties in processing, excessive documentation work).

7. Excessive expenses.

8. Evidence of waste and inefficiency (recycling)

It should be noted that behind each symptom there is a problem waiting to be resolved. If this task is not clearly identified, no effective solution can be drawn. However, problems are easily identified if adequate monitoring measures are implemented.