Carnival Cruise Lines is the famous brand of the British-American company Carnival Corporation & plc. based in the United States. This cruise ship brand follows the main principles developed by Carnival Corporation & plc. in relation to the internal controls. The company’s Audit Committee and Management are responsible for monitoring the activities associated with Carnival Cruise Lines’ internal controls.
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From the perspective of management, control can be discussed as the checking process to monitor and regulate processes associated with the company’s operations and financial activities with references to the information system used (Daft & Lane, 2009).
The Audit Committee in Carnival Cruise Lines focuses on the work with financial, operational, and compliance controls and pays attention to the principles of the information system’s work (Carnival Corporation: Audit Committee, 2006). The measurement used to control the functions is connected with the quality of the company’s performance in relation to the definite sphere.
Carnival Cruise Lines’ financial controls depend on the realization of definite rules in relation to financial procedures. The financial activity of the company is controlled with references to the financial reports or financial statements, and much attention is paid to the income statements reflecting the real financial situation within the company.
These financial controls are important to plan and develop the further strategies in order to gain more profits or overcome the financial losses. Moreover, the analysis if the information received with the help of the financial controls is necessary to develop the investment relations. Carnival Corporation & plc. uses the uniform financial control systems for all the brands, including Carnival Cruise Lines, to create the complex picture of the company’s development according to the definite corporate standards.
The company’s operational controls can be described as the complicated system of regulations in relation to such aspects of the company’s internal development as schedules, services, specifications, quality, and costs. The management of Carnival Cruise Lines concentrates on monitoring and regulating the above-mentioned aspects in order to predict the changes and overcome the possible challenges. From this point, the role of reports on the aspects of the activities provided is important.
The operational control system allows receiving the immediate feedback in order to improve the work and cope with any challenges. The main goal of the operational controls is the creation of conditions for the successful realization of Carnival Cruise Lines’ strategic goals.
Being one of the most successful cruise line companies, Carnival Cruise Lines rely on the work of information systems and computers not only while sailing but also while realizing the control activities.
Carnival Cruise Lines actively use the electronic-access control systems, computer systems developed for the needs of the company’s management, and specific information systems to control the financial processes. Information systems are effective to realize the identification procedures, to exchange the information within the company’s network, and to analyze the specific financial information. Moreover, the usage of information systems is important to guarantee security.
The management department and committee monitor the information and contribute to exchanging the necessary financial information between the company’s departments. Thus, the information systems are necessary to record the necessary material, exchange, and analyze it according to the company management’s needs (Carnival Corporation: Audit Committee, 2006). It is possible to state that the role of information systems is significant for Carnival Cruise Lines to realize the controlling procedures.
Carnival Corporation: Audit Committee. (2006). Web.
Daft, R., & Lane, P. (2009). Management. USA: Cengage Learning.