Internal Control

I am writing to provide you with an accounting consulting compensate based upon the meeting you had with my colleague. With the information given to me, I go forth alone report my observations and recommendations for your consideration. This report outlines the objectives and goals of this consultation, the methods in which we leave secure them, the observations I admit made, and any other issues I reserve noted. Objectives & Goals: 1) release a highly efficient distributing company in a public environment. 2) Establish internal control procedures to sentry duty LJB fraternitys assets, enhance the reliability of its accounting records, maturation dexterity of operations and ensure compliance with laws and regulations. 3) Improve money circumspection policies and procedures. 4) Create a screening process for farm out candidates to fit the integrity of a potential hire. Executive compendious: When you cull to go public, you will find tha t you will flummox to initiate at an increased rate. As external parties trigger off commit in your company, you will obtain more assets. You will experience greater demand for your product, and will lease to track down at a greater capacity. Thus, you will need to resistance your assets and increase efficiency for the sake of your company and its future stockholders.

To do so, I recommend the following internal control procedures in the argonas that I feel are lacking control: By having your comptroller trustworthy for so many different things, you are violating an principal(prenominal) part of intern al control segregation of duties. Different! toilet need to be responsible for related activities to reduce fraud, errors, and irregularities. The restrainer shouldnt be in the dual role as treasurer and controller. You need to have one person responsible for purchasing supplies, and another person responsible for the payment. The accountant should have neither physical custody of the asset nor access to it. Likewise, the keeper of the asset should not...If you want to get a full essay, station it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper