Internal Control application : Empirical evidence from Sweden

Aim The aim of this study is to explore based on internationally recognised frameworks: 1. how internal control structures are applied in Sweden among different sectors; 2. how organizational size and environment affect internal control structures; and 3. the impact of internal control structures on organizational performance. Methods A quantitative method was used in the data collection and analysis. The sample consisted of 1117 organizations operating in Sweden. A mean analysis was conducted to measure the level of internal control structures among different industries, organizational sizes, and different choices of listing in the stock exchange market. Person’s correlation analysis was then used to explore possible correlations between external environmental factors and internal control structures, and internal control structures and organizational performance. Lastly, a structural model was built to measure the impact of internal control structures on organizational performance. The measurements of internal control structures and organizational performance are based on COSO framework’s principles and objectives. Results This study gives an insight on how internal control structures are applied across industrial sectors in Sweden, with financial institutions and manufacturing organizations having notably higher levels of internal control structures. Additionally, it provides evidence of the impact external environmental factors have on internal control structures. Furthermore, it shows that organizations that are listed in the Swedish stock exchange market have an equivalent level of internal control structures to those registered in the American stock exchange market. In contrast, organisations that are not listed in the stock exchange market have a notably lower level of internal control structures. Lastly, it illustrates the positive impact the presence of internal control structures has on organizational performance. 3 | P a g e Conclusion The results highlight a crucial role the supervisory authority Finansinspektionen (FI) has in regulating the Swedish financial market. They also show that the stability of the Swedish business environment has had a positive impact on the level of internal control structures.

"Not one word of it made any sense" : Hyperbolic Synecdoche in the British National Corpus

A distinct metonymic pattern was discovered in the course of conducting a corpus-based study of figurative uses of WORD. The pattern involved examples such as Not one word of it made any sense and I agree with every word. It was labelled ‘hyperbolic synecdoche’, defined as a case in which a lexeme which typically refers to part of an entity (a) is used to stand for the whole entity and (b) is described with reference to the end point on a scale. Specifically, the speaker/writer selects the perspective of a lower-level unit (such as word for ‘utterance’), which is quantified as NOTHING or ALL, thus forming a subset of ‘extreme case formulations’. Hyperbolic synecdoche was found to exhibit a restricted range of lexicogrammatical patterns involving word, with the negated NOTHING patterns being considerably more common than the ALL patterns. The phenomenon was shown to be common in metonymic uses in general, constituting one-fifth of all cases of metonymy in word. The examples of hyperbolic synecdoche were found not to be covered by the oftquoted ‘abbreviation’ rationale for metonymy; instead, they represent a more roundabout way of expression. It is shown that other cases of hyperbolic synecdoche exist outside of word and the domain of communication (such as ‘time’ and ‘money’).