(Lesile)please this is just three questions veru urgent
Perceptions and Models of Auditing Table of Contents Section One: Title, Aims and Objectives3 Title3 Aims 3 Objectives3 Section Two: Reasons for Choosing this Project3 Concepts Studied 3 Personal Interest 6 Future Plans 6 Skills Needed to be Improved 6 Significance of the Topic 9 Section Three: Precedents and Sources 9 Section Four: Activities and Timelines 10 References10 Section One: Title, Aims and Objectives Title What are the Impacts and Perceptions of Models of Auditing on Organisational Change Management? Aims I want to learn about the perceptions, that is, to understand about the various models of auditing that are required in changing the organisation’s management. I also want to find out about the impacts that the various models of auditing would have on the organisational change management. Objectives · To identify the perceptions of models of auditing on organisational change management. · To analyse the impacts of models of auditing on organisational change management. · To evaluate the negative impacts of models of auditing on organisational change management · To recommend suitable strategies in order to improve the perceptions and impacts of models of auditing on organisational change management. Section Two: Reasons for Choosing this Project Concepts Studied 500 I have studied about five concepts and the things I have learned are given below as follows: Management Auditing Management Auditing is a sequential analysis that evaluates a company’s overall performances and activities. I learned that it is a form of audit which reviews and examines the different strategies and policies of the management based on certain objectives. It recommends change in policies in the interests of shareholders, employees, company’s reputation and customers’ needs. The aim of management audit is to calculate the effectiveness of the company and execute the principles and policies. The management audit locates and examines the differences and provides appropriate recommendations. Thus, I understood that it has a huge role in organisational change management. Financial auditing Financial auditing refers to the accounting process which presents the actual amount of the business transactions of a company. In financial auditing, I collected data from company’s tax returns, balance sheets, income documents and billing invoices. I also gathered data from the organisation's reporting and control systems. When the company undergoes any change within itself then the financial auditing would also change because the company's control and reporting system would be modified. Change Management Change management involves techniques in which an organisation undergoes changes in both internal and external processes. I recognised that the companies that have effective communication skills could easily adapt to change management. I realized that there are four principles in change management. Those four are as follows: Understand the change. Plan the change. Implement the change. Communicate the change. For organisational change every company needs to adapt to change management since it reduces the risks which are associated with introduction of new elements and modifications of pre-existing elements. Organisational Development Organisational development is a systematic scientific change that helps the companies to attain their capability to change. Through this an organisation could achieve more effectiveness by evolving, upgrading and supporting the strategies, structures and processes. There are seven stages in organisational development which are given below: Initial Diagnosis Data Collection Data Feedback Planning Strategy Intervention Team Building Evaluation. I understood by studying this concept that organisational development is needed to implement the organisational change. We could create ideas but to physically apply them in the real world we need a systematic process. Organisational development is that process which converts the ideas to reality. Change Leadership Change leadership is a people centric approach. In this approach, leaders are changed from time to time and analysis is done to examine how the change of the leaders are affecting the employees and the company’s policies and strategies. When the same leader remains for many years then monotony comes into the picture. The policies and strategies are not revised and the organisation does not try to change its ways to adapt to the changing needs and thus the company suffers since the same person could not always form new innovative ideas. So, I registered that change in leadership is required under organisational management change. Personal Interest 150 Currently, I am studying business studies and recently I developed an interest to know more about the auditing mechanism followed by the companies. So, I started to work under the guidance of an internal auditor to know more about the system. First I started with the basics of auditing and then researched about the types of auditing which included external internal and Internal Revenue Service (IRS) audits. I differentiated them on the basis of their principles and then went ahead to learn about the models of the auditing. Different people have different perceptions about auditing and its models. I shifted my focus towards the models and tried to understand how the models are involved in changing an organisation’s management. The models have impacted in positive as well as negative ways. However, first I started to figure the positives and for this I needed to understand the concepts behind the organisational management change and how they are impacting it. Currently, I am covering these concepts. Future Plans 150 My future plan is to become an auditing manager since recently I developed an interest to learn more about the auditing system and its impacts on the organisational change management. I am liking this new field and I have decided to pursue something in this field only. So, an auditing manager is a good option for me. I am learning the concepts that are needed for successful implementation of change in organisational management. To survive in the world, we need to adapt ourselves to the changing things around us. Similarly, for an organisation to survive in the market, constant change is an essential requirement. The auditing department also changes since if an organisation makes changes then all its policies and principles are also modified. The financial department also has to undergo change to deal with the change. Everything depends on the market so considering the market requirements, I will also recommend new things that would benefit the organisation. Skills Needed to be Improved Skills Why? How? Communication Skills They help to improve personal as well as professional relationships. It is required to have good communication skills so that we could understand others’ perspectives and avoid conflicts. We need to listen to others’ opinions patiently.We need to maintain eye contact to ensure that we are giving importance to what they are talking. We need to avoid arguments. Cultural Diversity Skills By interacting with culturally diverse people, we could know more about their culture and develop new ways of thinking. Thus, creativity and productivity increases. By interacting more with the culturally diverse people we could learn more about their culture. We could also try to research more about their culture from the internet so they would not feel inferior while interacting with us. Management Skills They are required for planning, organising, leading and controlling. Everything needs to be sorted out in a systematic manner. In the absence of any sequential approach, an organisation would become distable. We need to cultivate self-awareness to develop management skills. Trust is an essential component of management skills. When there is trust between two individuals then any problem could be solved easily. Leadership Skills We need to develop leadership skills because in absence of leaders the whole set up of the company would be disturbed. The function of a leader to combine man power in an efficient way to achieve the desirable outcomes. Leaders need to maintain discipline among his or her employees. A leader should not have arrogant behaviour and believe that he or she is always right. A leader needs to develop an attitude to take suggestions from his or her juniors. Auditing Skills Every company needs to conduct an audit each year. Auditing skills are required to know about the backdrops of the organisation and also to find whether any person is using unfair means to achieve success. Auditing also provides recommendations that could be implemented to improve the condition of the company. To develop auditing skills we need to improve our communication skills and problem solving skills. We need to have ideas about the industry standards. We need to have strong critical thinking skills and knowledge about the frauds that could occur in an organisation. Lean Management Skills Lean management is a technique of managing and organising work with the aim of upgrading the company’s performance that is mainly to increase the productivity of the company. First we need to identify the requirements of the customers and then identify the different steps in process change. We need to produce only what the customers require and continue to analyse the market for changing customer needs and competitors. Risk Assessment Skills When we start any company we need to always keep in mind the risks associated with it. Changing customers’ needs, growing competitors in the market and inefficiency of the workers to deliver the products on time are some of the risks associated with business. To improve risk management skills, we need to have the power to face any difficulty. We need to conduct detailed market analysis of the customers as well as the competitors so that the products launched by the company are not neglected. Need to have the ability to work under pressure and a good problem solving mantra. Significance of the Topic A company cannot survive without revising its aims, principles and policies from time to time. With the changing customers’ needs, the company also needs to modify its strategies to survive in the market and cope up with its competitors (Jeppesen, 2019). When a company undergoes an audit on a yearly basis then it could identify its weak points. The audit not only helps the company in identifying its drawbacks but also recommend strategies to improve those to survive in the market. A transparency is maintained between the directors, shareholders and the employees of the company (Chan, Chiu and Vasarhelyi, 2018). Section Three: Precedents and Sources Source 1: Galli, B.J., 2018. Change management models: A comparative analysis and concerns. IEEE Engineering Management Review, 46(3), pp.124-132. Source 2: Kafile, M., 2018. A framework of intrapreneurship development for corporate entrepreneurship: a case study of organisational development. Educor Multidisciplinary Journal, 2(1), pp.171-191. Source 3: Knechel, W.R., Thomas, E. and Driskill, M., 2020. Understanding financial auditing from a service perspective. Accounting, Organizations and Society, 81, p.101080. Source 4: Ling, B., Guo, Y. and Chen, D., 2018. Change leadership and employees’ commitment to change: A multilevel motivation approach. Journal of personnel psychology, 17(2), p.83. Source 5: Knechel, W.R., Thomas, E. and Driskill, M., 2020. Understanding financial auditing from a service perspective. Accounting, Organizations and Society, 81, p.101080.