Internal Control Case Study

XXXX XXXXX 555 Garth Street Omaha, NE 66345 May 29, 2012 Rob Talbit President LJB attach to 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 atomic number 18 supererogatory inborn controls that in allow for fatality to be utilize and nearly that will need circumscribed to meet the Sarbanes-Oxley doing requirements. First all completeicers of the company will have to get to a set list of internal control procedures. Those procedures should revolve about on musical notes that LJB Company provide follow to run into 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 inspects of the financial selective information. An audit of that nature would review the accounting records and reinforc ement documentation to assert accuracy of the financial records. You could do this by employing an Internal hearer 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 breakling change should be Bonded.

adhere 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 specie. You would need to include all employees who handle cash on the application. They would go through screening by the amends company and be held legally responsib! le for any shout out of funds found. You should establish vacation requirements and rotation of duties. You could have a part-time accountant be required to fill for both the accountant and the treasurer whenever they are out on or so required vacation. LBJ Company is handling the physical control of payroll checks accurately as all checks are being safely secured in a safe prior to your accountant hand 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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