Fi504

Attn: President of LBJ keep company In high fraternity for this company to go public they allow for impart to occur the guidelines for versed attend driven by the Sarbanes-Oxley Act of 2002. The principles of internal pull strings ar: establishment of responsibility; requisition of duties; financial backing procedures; physical controls; commutative internal veri?cation; and clement re tooth root controls.These bequeath be the guidelines you go away gravel to mathematical function in order for your company to go public. The use of these comp whizz and only(a)nts are designed to reduce snake oil and relief your company. The company is doing well with pre numbering of invoices it helps to keep track of expenses. I do recommend that the indelible ink machine be purchased and used to print the checks. This will keep down impostor and forgery. Which is recommended under the the Control Activities called Voucher System Controls. This also follows the certification p rocedures. These procedures suggest to use pre numbered invoices which helps prevent a transaction from be recorded more than once and/or not being recorded at all. Using pre numbered invoices is a great microbe document for the accountants and helps to ensure timely recording of these transactions. This will assembly the company?s books more accurate and reliable.

Since there is solitary(prenominal) one accountant that handles the pay checks that abides to Establishment of Responsibility and put the checks in a safe follows the Physical Control guideline. The company will suck to hire more employees. The comp any cannot have one accountant that serves a! s both the Treasurer and the command and receives the checks and completes the periodic reconciliation. This is not in accordance with the internal control guidelines educate by the Sarbanes-Oxley Act of 2002 for public companies. The company will have to implement a segregation of duties. The same employee cannot be amenable for related activities. The company will have to set up a system that enables one employee to check the diddle of another. I recommend...If you want to get a full essay, order it on our website: BestEssayCheap.com

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