The sophistication is really important from the point of view of restricting the occurring of the illegal practices such as, dishonesty and corruption at a less rate. If that happens, it will definitely prove to be a turnaround for the organization, as all the activities will become standardized and above all, the competency of the firms will amplify. It would provide an insight to the financial planners to make the organization work or functions without any problem. The financial planning will definitely be enhanced and it would also allow the corporation to flourish smoothly in the long-run. The efficacy in the financial planning would lead the organization to make it viable and feasible and it can protect itself from any future sabotage (Rattiner, 2005).
The organization should try to acquire the role of a watchdog by having a cautious look upon the activities performed by the organization. The organization should have a proper and regular scrutiny of the financial records and should condemn the practices of deceiving the investors or the clients regarding the financial health of the firm. The corporation should motivate the employees and the auditors to adopt honest and loyal practices in work activities and should also show commitment and dedication towards the work assigned to them. This would really make the organization win the hearts of the people associated with it and will also provide assistance in sprouting handsome amount of profit and the goodwill of the company will achieve a good height.
By Spetsnaz26 in forum Ask a Teacher
Last Post: 12-Jan-2010, 15:54
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