International PepsiCo

Paper Summary:

The paper answers the question of how such a large, profitable international company could be affected by the mismanagement of its foreign managers. Although the company took immediate action when the problems came to light in that the people involved were dismissed and replaced, the company's reputation suffered. The writer illustrates the way in which PepsiCo responded to and recovered from these events.

From the Paper:

"PepsiCo has already put into place an internal audit structure; this was how the fraud was discovered, although it was an employee speaking who brought the fraud to the attention of the auditors rather than the auditors who discovered it as part of the audit process. The internal audit is a primary resource which supports a company's overall internal control environment by providing an oversight function. The department measures and evaluates risk and allocates the audit effort in the appropriate areas. It should produce cost-saving ideas to make the process more efficient and improve control, and it should serve as a key personnel resource to other departments and units of the company (Sawyer, 1995, p. 46)."

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