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The Illusion of Internal Controls
By Bill Atwood, CFE, CFF, CPA; Cecily A. Raiborn, CMA, CPA, CFE; and Janet B. Butler, CITP, CGMA
If instituted thoughtfully and maintained properly, internal controls can mean the difference between a thriving, well-respected organization and one that's likely to corrode slowly from within, alienating customers and suppliers alike. The authors discuss what factors can cause a well-meaning set of internal controls to go awry and what can be done to detect an IC system that's deficient or failing and, most important, to lessen its risk for triggering fraud, waste, and abuse.
IMA 2012 China Salary Survey
By Raef Lawson, CMA, CPA, CFA
This first salary survey of IMA members in China includes an examination of respondents salaries, various fringe benefits, overall job satisfaction, and plans for changing jobs. The survey also analyzes the benefits of certification and education. Of the 508 respondent's whose responses were used for analysis, 46% are female, a higher percentage than the 34% in this year's U.S. salary survey. On average, the disparity between salaries for men and women is substantially higher in China than in the U.S. survey, except in the case of women in their 20s.
The Balanced Scorecard: 20 Years and Counting
By Mark L. Frigo
Strategic Finance interviews Robert S. Kaplan and David P. Norton on the 20th anniversary of their introduction of the balanced scorecard (BSC) performance management system. They explain their reasons for shifting focus from lag indicators and tangible assets to the intangible assets measured by the BSC. The new system helped integrate several conflicting management theories at the time, and the two innovators comment on their study of organizations that have successfully used the balanced scorecard in the business, public, and nonprofit sectors.
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