Fi504 Case Study 2 Week 5 Keller

Dear Sir, Thank you for taking the time to meet with me right away and discuss your concerns with versed controls and pledge. Going public is a erect step in the development of a corporation, and you will commit it off under great scrutiny as to your security principles and internal control mechanisms. My colleague has informed me of some(prenominal) examples of how your business operates and I have prep ared a few remarks and recommendations for you to address primarily going public. Before I delve into the heart of the matter, I would like to remind you of the objectives of internal control practices: first, to safeguard the assets of the corporation, honk the reliability of its accounting practices and records, increase the efficiency of the corporations operations, and en true that its followers laws and regulations. This can be achieved through the following normal principles: 1. validation of Responsibility - Setting clear expectations of your employees and making certain(p) 2. requisition of Duties and Segregation of Record Keeping - Making trusted that no unity individual remains unchecked by others in his or her activities, and that the selfsame(prenominal) people responsible for certain actions are not alike solely responsible for recording those actions. 3.

Documentation of Procedures - making sure that the expense reports are accurate and that original utility are used for proof. 4.Physical Controls - in order to safeguard proportionality against theft and vandalism. Based on those principles, I see some(prenominal) areas of potential improvement. Lets consider the scenarios you have provide! d: First, it is very important and stone-dead crucial that you have faith in long stipulation employees. However, it is not wise to grant too much scram to any one single person in your organization, no matter how long theyve been with you. As per the first principle, we believe that your exchequer Controller should be subjected to some segregation of duties and record keeping. Since he is the sole...If you want to get a full essay, order it on our website: BestEssayCheap.com

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