Assignment:
Your job is to identify 4 items/areas/ procedures of potential loss or waste in your department (Security and Maintenance) , due to carelessness or theft. For each item/area that you identify:
• Explain the purpose or characteristic of the item/area/procedure as it relates to the department and why it is important to control. Justify the need for each policy by providing 3 reasons why it is needed (i.e. what will it solve or prevent?). Be sure to clearly explain how each policy or procedure should mitigate or eliminate loss.
• Create a management control (policy and procedure) using the template provided for each policy that addresses all 3 reasons identified. In addition, Create a separate memo for each policy, addressed to the staff, explaining the policy change, as well as the reason for the new policy or procedure.
Policy and Procedure
Subject:
Purpose:
Policy:
Procedure:
Monitoring Accounts:
Memo:
• Use the UAL Revenue and Expense guide to identify affected revenue and expense categories: o Identify the revenue and/or expense accounts affiliated with each of the 4 items, that will have to be monitored for evidence of the effectiveness of the controls established.