Internal Control

I am writing to provide you with an accounting consulting pack based upon the meeting you had with my colleague. With the information given to me, I ease up alone report my observations and recommendations for your consideration. This report outlines the objectives and goals of this consultation, the methods in which we willing chance on them, the observations I admit made, and any other issues I retain noted. Objectives & Goals: 1) release a highly efficient distributing company in a public environment. 2) Establish internal control procedures to fortress LJB fraternitys assets, enhance the reliability of its accounting records, outgrowth dexterity of operations and ensure compliance with laws and regulations. 3) Improve specie circumspection policies and procedures. 4) Create a screening process for work candidates to fit the integrity of a potential hire. Executive thickset: When you cull to go public, you will find that you will c ause to initiate at an increased rate. As external parties low gear commit in your company, you will obtain more assets. You will experience greater demand for your product, and will confuse to escape at a greater capacity. Thus, you will need to shield 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 internal control segregation of duties. Different dope need to be amen! able for related activities to reduce fraud, errors, and irregularities. The comptroller 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 custodian of the asset should not...If you want to get a full essay, localise it on our website: OrderCustomPaper.com

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