Acct Week 5 Course Project

Week 5 Course Project

Field Work Phase: Market Segment Earnings

Karina Alvarez

Michael Festag

Shaletrica Griffin

Brenda Hicks

Geishy Martinez Snell

Auditing: Operational and Internal Perspective – ACCT 562

Keller Graduate School of Management

November 30, 2014

Areas of Concern

Corporate culture. Each year GE trains upwards of 60,000 employees and spends an estimated one billion on the training center for executives (Donlon, 2012). The train the trainer concept is managed by the staff in New York so they can maintain consistent education across the globe. The trainers are certified in the content of courses. This leadership training can create a uniform system of accounting where everyone is aware of the goals and processes of the company. This method of controlling training is designed to reduce the risk of errors and encourage a culture of sharing and training among colleagues. A drawback to this method could be complacency in checking for errors. If everyone is trained in the exact same manner, then where is there room to think outside of the GE box and look for problems?

GE emphasizes the financial success of the company. The company culture encourages employees to take risks and be innovative. In addition, they encourage diversity and progressive thinking. Does the migration of executives mean that executives are unhappy with GE? On the contrary, GE has a 97% retention rate of executives (General Electric, 2013). Executives are promoted from within and understand the advantages of being successful in their positions. If the retention rate is 97%, is there room for advancement in GE? Are executive positions created unnecessarily in order to promote people?

GE is a company respected for the leadership of the company. Many outside businesses seek out GE executives to manage their companies. The financial statement discussions of GE emphasize the expectations of GE leadership. GE has developed a leadership model that includes domain...