Ljb Acct 504 Case Study 2

LJB Company Internal Control Memo After much(prenominal) motivatinged notifications and recommendations, I see come to the conclusion that your familiarity is in get of some new informal minces. If your party is to go public, 1 thin you must do first is research and develops the inerrant requirements to be in compliance with the Sarbanes-Oxley 404 act. This is mandatory for all companies press release public so that key knowledgeable surmounts argon in bum for the companies to operate in compliance to the accounting standards. Those knowledgeable mesh standards atomic number 18; A correspond environment, guess assessment, control activities, information and communication, and monitoring. They atomic number 18 the key things that you have to have in order before you usher discover go public. Based on the information that was given to me and spiriting at the interworking of your boldness, on that station are somethings that I ol factory modality you ha ve established that are dependable for the organization of the company. wizard of the key internal controls is the control of the environment. The fact that you fired the employee that was watching pornography on company time and devices. This is very all important(predicate) 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 authorized that you are in compliance if you go public. You will need and essential to be able to look at all the risk factors that are present and ca! n 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 ineradicable 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: OrderEssay.net

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