Essay: Establishment of internal audit team

4 May

Essay: Establishment of internal audit team

Sample Essay

Therefore the manager, with the goals he has in his hand will be subject to following the rules rather than exploiting his team members to reach the target. In order to ensure that the manager is abiding by the code, a system of checks should be established, wherein an internal audit team should be established which checks whether the manager is abiding by the code of ethics and is not favoring a particular employee for any sort of reason. (Scott, 2007)

The solutions thus suggested will have the system-wide impact of bringing stability in the organization and will also serve to alleviate the problems and the disrepute that the lawsuits have brought on. Moreover, the shareholders too will be in the know regarding the company’s status and will not have the urge to file damages against the company as their action was one which was consequent to the labor problems and the shareholders too jumped on the bandwagon.

Roles they should play in the development and implementation of the actions

The management and the board of directors all need to be involved in the implementation of the action. The reason for the management’s involvement is that they were the ones, who were executing the policies of the board, and they should be the one accepting responsibility and in order to show their regret they should be at the forefront to remedy their fault.

The management will be playing the pivotal role here as the key executer of the strategy and they should abide by the changed position by giving the employees the right to balance their work and life, rather than being slave-drivers.

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