Thomson one Essay Example | Topics and Well Written Essays - 1000 words

Thomson one - Essay ExampleIt is worthwhile noting that, Disneys mastery in its marketability is mainly through incorporation of certain key fundamental franchise approaches. Firstly, the companionship has ensured conformity with the US universal accounting principles. In addition, it full maintained effective control over its internal financial reporting basing on the ICIF criteria issued by the COSO. Critically, the party conducts an internal appraisal of the cogency of its financial reporting. Moreover, the company has engaged itself in the guard of its intellectual properties. It has done so through the registration of its business name, product design and the companys trade mark. Consequently, the company has kept unnecessary competition at a distance through the enjoyment of the above intellectual rights.Secondly, Disney ensures that the management exercises its responsibility of expressing estimations on the said analyses in accordance with the PCAOB in the US. Consequent ly, the management could plan and conduct the audits hence, it obtained a rational assurance of the lack of material misstatement in their financial statements. In addition, it could ascertain the efficiency its internal control of financial reporting in totality. Significantly, their financial statements entail a thorough examination of the evidence attached to the amounts and the financial statements disclosures. Accordingly, they are able to evaluate the employed accounting principles and the made momentous estimates. Moreover, they evaluate the presentation of the financial statement in totality.Finally, the companys audit of control over internal financial reporting relies on realizing an understanding of control over internal financial reporting. In addition, they review the risk of the man of a material risk. They also investigate and evaluate the organization and effectiveness of the operations of internal control according to the assed risk. It is significant