Control procedures installed to mitigate discrepancies in accountability for Malta-based multinational parcel delivery service providers

Abstract

The main aim of this study was to identify and analyse the internal control policies and procedures which are in place within Malta-based multinational parcel delivery companies and are installed in order to mitigate discrepancies in accountability. It also identified Government incentives aimed to help creating business incentives for such businesses in Malta. It also focused on the interpersonal relationships and collaboration between different departments with greater focus placed on the accounting department. In order to gather this information required for this case study, qualitative in-depth interviews were conducted. The general outcome of the research revealed as supposed, the importance of accounting and control within organisations. It also revealed the interpersonal relationships between employees, the interaction between departments, the procedures undertaken on a daily basis and the importance of the accounting department serving as a bridge between all other departments. Also, weaknesses and potential for improvement was identified on multiple levels, putting stress on the importance of constantly improving software and hardware systems which aid employees in their daily duties, the importance of reducing manual accounting work, thus reducing the probability to deliberately or unintentionally commit mistakes or express fraudulent behaviour. Apart from basic recommendations and conclusions derived from the findings, a suggestion for further research was also brought forward.