A guest faculty session was conducted for the TY B.Com (Accounting Major III) students of all divisions on Internal Control System on Tuesday, 28th August 2018. The resource person for the guest session was Mr. Suraj Dessai, Asst. Finance Manager, Titan Time Products Ltd.
Asst. Prof. Ainsley Bernard introduced the resource person for the session. The session was attended by approximately 70 students from all divisions of TY B.Com (Accounts Specialisation).
The resource person began the session with a brief introduction about auditing and its importance in the present business environment. He spoke about how audit benefits organizations irrespective of their size. Mr. Dessai spoke at length on Internal Control Systems that organizations need to put in place and their importance in safeguarding the assets of the company. He discussed the internal control measures organizations are using in recent years. He further added that vouching is no longer the main focus in auditing, rather the internal control system of the organization is the key focus of an auditor when it comes to statutory audits in big organizations. He explained how compromising on internal controls can affect the overall business in the long run. He further discussed on the growth of internal audit in the industry and also spoke to students about the various job opportunities available to them in the field of accounting. From his vast corporate experience, Mr. Dessai made it a point to share with students how processes actually take place in an organization and the various internal control safeguards that companies use in their processes.
The session concluded with the vote of thanks given by the Ms. Lisa D’Souza, student of TY B.Com followed by a group photograph.
