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Regarding to P.43 of OpenTuition Course Notes, what is the meaning of “remember clarissa”?
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CLARISSA – it’s some mnemonic. I can’t remember what it’s for any more, maybe for something to do with risk, maybe something to do with qualities good information should have.
I have definately heard it in OT videos about risk, so perhaps you could try and find it there.P-43 of opentution Course Notes 2011-is about ROLE and Functions of an audit committee. They are stated there as follows:
. create a climate of discipline and control… C
. lend an air of credibility and objectivity…… L
. assist CFO by providing a forum A
. review financial statements to improve the quality of… R
. independent judgement I
. strengthen position of the internal auditor S
. strengthen position of the external auditor S
. assist in the resolution of disputes……………… AI think “CLARISSA” reflects just to those function for ease of remember.
and Clarissa’s family name is “Whistle-Blower” ie the audit committee acts as an ear for the whistle-blowers in the company / group
@rachuhi1340 said:
P-43 of opentution Course Notes 2011-is about ROLE and Functions of an audit committee. They are stated there as follows:
. create a climate of discipline and control… C
. lend an air of credibility and objectivity…… L
. assist CFO by providing a forum A
. review financial statements to improve the quality of… R
. independent judgement I
. strengthen position of the internal auditor S
. strengthen position of the external auditor S
. assist in the resolution of disputes……………… AI think “CLARISSA” reflects just to those function for ease of remember.
Hi Rachuhi1340, thanks for this, I’ve copied and pasted your post in the Mnemonics thread, if you have any more please add them there…
Thanks
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