Internal Control Case Study

XXXX XXXXX 555 Garth Street Omaha, NE 66345 May 29, 2012 Rob Talbit President LJB caller-out 1000 Main Street Omaha, NE 66225 Dear Mr. Talbit: I have recently been appointed to the function of evaluating LJB Companys home(a) controls. If the company decides to go unrestricted there ar redundant inborn controls that in allow for fatality to be utilize and nearly that will need circumscribed to meet the Sarbanes-Oxley snatch requirements. First all clear upicers of the company will have to progress to a set list of internal control procedures. Those procedures should stress on measuring sticks that LJB Company provide follow to tick the accuracy of the financial reports. It would need to be reviewed and signed off on by all answerable officers. A step that should be included is periodic internal analyzes of the financial info. An audit of that nature would review the accounting records and reinforcement documentation to sustain accu racy of the financial records. You could do this by employing an Internal meeter or my having McGladrey, LLC. complete an audit of all the financial data on a yearly basis. merciful resource controls are needed. Each employee responsible for get hold ofling change should be Bonded.

bind is done by acquiring redress that covers liabilities on assets caused by fraud or misappropriation of funds in hand that could occur from employees mishandling money. You would need to include all employees who handle cash on the application. They would go through screening by the indemnification company and be held legall y responsible for any revilement of funds ! found. You should establish vacation requirements and rotation of duties. You could have a part-time accountant be required to fill for twain the accountant and the treasurer whenever they are out on nigh required vacation. LBJ Company is handling the physical control of paysheet checks accurately as all checks are being safely secured in a safe prior to your accountant press release for the day. The recent addition of using pre-numbered...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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