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Identity: , Tata Kesewaa Dankwa Index Number: -PGDBA/PM/022/0912 EVALUATE THE STRATEGIC SIGNIFICANCE OF THE SWOT ANALYSIS TYPE OF AN ORGANIZATION WHICH YOU HAVE CHOSEN. Introduction: Power, Weaknesses, Opportunities and Dangers (SWOT) Analysis is an important system for examine and evaluation of the general strategic location of an enterprise and its environment. It aims to elicit methods which will generate an company specific detailed model that will best line up an organization’s resources and capabilities for the requirements of the environment in which the firm operates (www.

anagementstudyguide. com). Therefore , for any company to survive and achieve their mandate, it needs to intentionally and skillfully undertake a SWOT research of their environment to fashion out activities that can enable it pursue and achieve the mission and vision. The interior Audit Firm The company selected with this assignment is the Internal Taxation Agency (IAA). The IAA was established by Internal Examine Agency Work 2003 (Act 658).

The Agency’s quest is to physical exercise oversight responsibility over inside audit practice in the open public service simply by setting standards, providing the good quality assurance and supporting capacity building for good corporate and business governance, powerful risk management and controls through highly skilled and motivated staff. Its vision is to be a Centre of Excellence in Africa in promoting best practices in internal auditing. The strategies adopted by Agency to accomplish its set objectives include, 1 .

Effectively promoting interior audit practice in Ministries, Departments and Agencies (MDAs) and City, Municipal and District Assemblies (MMDAs) installment payments on your Increasing general public access to information about internal audit activities three or more. Creating a congenial environment for high performance operate the Internal Review Agency 5. Improving good governance and accountability in MDAs and MMDAs SWOT Analysis Model of the Internal Examine Agency StrengthsWeaknessesOpportunitiesThreats Congenial relationship between Panel, management and staff

Favorable work environment Accepted Scheme of ServiceLow spirits of staff due to improper placement Support of the Obama administration Legal backing up for IAA work 3rd party Judiciary Great relationship with central managing agencies (CMAs)Lack of continuous political commitment Poaching of internal examine skills by simply other institutions. High quality of staff (competence and qualifications) Proactive Command Supportive Plank Youthful and energetic personnel Cordial operating relationship Good corporate imageInadequate training for personnel

Inadequate office accommodation Limited Staff quantities Govt devoted to developing inner audit function Appreciable quantity of qualified employees available in Ghana Goodwill of suppliers and service providers Foreign recognition Accessibility to curricula for training internal auditors in tertiary corporations. Poaching of key staff from IAA Publicity upon negative actions by staff of Inside Audit Units (IAUs) The perception that corrupt procedures are “normal Misconception with the role of IAUs.

INTRANET , encourages communication within just IAA NET ” makes it possible for communication of IAA with the external community Availability of ICT Tools Accessibility to a websiteHigh downtime to get office products. Non-availability of electronic saving equipment Not enough , out-of-date ICT equipmentPotential to Network with all MDAs and MMDAs. Emerging technology to help conduct of internal examine functions (e. g. Review Software) Implementation of GIFMISComputer Viruses , Frauds

Poor ICT infrastructure and geographical spread of MDAs and MMDAs Frequent power black outs. Legal mandate by a great Act of Parliament, Action 658 Availability of conditions of serviceLack of enforcement power. High demand by MDAs and MMDAs to get solutions of inside audit Legislation in areas such as work, compensation and health and basic safety Non-transmittal of IAA Gross annual Report to Parliament Inability to enforce criminal prosecution of responsible public support staff Limited authority to enforce implementation of taxation recommendations

Proper Implications with the SWOT Analysis model of the Internal Audit Firm The Internal Taxation Agency’s SWOT Analysis style was completed be able support the COMPANY ACHIEVE ITS OBJECTIVES. it is legally mandated to achieve the Now the strategies of the agency were drawn out the swoty research done the agency received all its strengths The strategies of the IAA have been completely formulated to assist the organisation achieve its mission and vision. These kinds of strategies had been designed choosing cognisance from the objectives described for the Agency in Act 658.

The SWOT analyses carried out by the IAA adequately check the Agency’s environment and also have appropriately ascribed both external and inner environmental concerns. The Agency’s SWOT unit has captured detailed internal and external environmental concerns which would place the Organization in a right position to adequately pursue and attain its target and goals with nominal adversity and a well prepared system since it has expected all the great and negative internal and external issues which could respectively support or perhaps derail its efforts towards achieving the objectives.

Nevertheless , the Agency’s SWOT unit is highly very subjective as these advantages, weaknesses, options and threats are structured massively within the perceptions with the staff starting the work out. The methods of identifying these environmental concerns are not clinical as the Agency did not provide virtually any basis to that particular effect inside their strategic policy for 2011- 2015. Conclusion SWOT analysis is known as a powerful instrument for the systematic evaluation of internal and external environments associated with an organization. This aids in effectively identifying challenges and attracting lines of future actions to eliminate or ameliorate these problems.

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