Internal Control Case Study

XXXX XXXXX 555 Garth Street Omaha, NE 66345 May 29, 2012 Rob Talbit President LJB society 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 be additional inborn controls that in allow for fatality to be use and nearly that will need circumscribed to meet the Sarbanes-Oxley moment requirements. First all off-keyicers of the company will have to collapse a set list of internal control procedures. Those procedures should emphasis on misuses that LJB Company provide follow to tell 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 canvass of the financial selective information. An audit of that nature would review the accounting records and reinforcement documentation to curb accuracy of the financial records. You could do this by employing an Internal attender 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 elapseling change should be Bonded.

soldering 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 cash in. You would need to include all employees who handle cash on the application. They would go through screening by the indemnity company and be held lega lly responsible for any roast of funds fou! nd. You should establish vacation requirements and rotation of duties. You could have a part-time accountant be required to fill for cardinal the accountant and the treasurer whenever they are out on most 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 yield 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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