Internal Control Case Study

XXXX XXXXX 555 Garth Street Omaha, NE 66345 May 29, 2012 Rob Talbit President LJB accompany 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 superfluous inborn controls that in allow for fatality to be implemented and nearly that will need circumscribed to meet the Sarbanes-Oxley set requirements. First all hiticers of the company will have to pretend a set list of internal control procedures. Those procedures should tension on criterions that LJB Company provide follow to suss out 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 analyses of the financial data. An audit of that nature would review the accounting records and reinforcement documentation to allege accuracy of th e financial records. You could do this by employing an Internal auditor 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 move overling change should be Bonded.

attach 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 legal ly responsible for any do by of funds foun! d. You should establish vacation requirements and rotation of duties. You could have a part-time accountant be required to fill for deuce the accountant and the treasurer whenever they are out on many 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 impart 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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