Ljb Acct 504 Case Study 2

LJB Company Internal Control Memo After lots motivatinged ceremonys and recommendations, I pass come to the conclusion that your familiarity is in ask of some new informal minces. If your guild is to go public, 1 thin you must do first is research and develops the undeniable requirements to be in compliance with the Sarbanes-Oxley 404 act. This is mandatory for all companies pouch public so that key privileged surmounts argon in charge for the companies to operate in compliance to the accounting standards. Those inseparable mesh standards atomic number 18; A function environment, adventure assessment, control activities, information and communication, and monitoring. They argon the key things that you have to have in order before you usher fall out go public. Based on the information that was given to me and spiriting at the interworking of your boldness, on that drumhead are somethings that I notice you have established that are sizable for the organ ization of the company. unitary of the key internal controls is the control of the environment. The accompaniment that you fired the employee that was reflexion pornography on company time and devices. This is very great because it sets a tone that there are rules in place and no exceptions will be tolerated. Another positive observation that I see with your organization is the use of risk assessment.

The fact that you are looking at your organization from an external and internal assessment, is a great locomote to making reliable that you are in compliance if you go public. You will need and involve to be a ble to look at all the risk factors that are! present and can happen. You would want to make sure that you have guidelines set up for you to manage this risk as they come. One thing that I do want to point out is that your company mentioned that they were raise in buying an indelible ink machine in order to print company checks. I dont think this is a good idea. This is in violation of the segregation of duties in operating in internal controls. The internal control states...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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