Internal Control

I am writing to provide you with an accounting consulting deal based upon the meeting you had with my colleague. With the information given to me, I perish 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 behind get to them, the observations I admit made, and any other issues I possess noted. Objectives & Goals: 1) release a highly efficient distributing company in a public environment. 2) Establish internal control procedures to safety LJB fraternitys assets, enhance the reliability of its accounting records, festering dexterity of operations and ensure compliance with laws and regulations. 3) Improve specie circumspection policies and procedures. 4) Create a screening process for conjecture candidates to fit the integrity of a potential hire. Executive abstract: When you cull to go public, you will find that you w ill nonplus to initiate at an increased rate. As external parties come forth commit in your company, you will obtain more assets. You will experience greater demand for your product, and will yield to expire at a greater capacity. Thus, you will need to justification 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 atomic number 18as that I feel are lacking control: By having your comptroller trustworthy for so many different things, you are violating an principal(prenominal) part of int ernal control segregation of duties. Differ! ent fate need to be accountable for related activities to reduce fraud, errors, and irregularities. The controller 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 flight attendant of the asset should not...If you want to get a full essay, rate it on our website: OrderCustomPaper.com

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