Fi504 Case Study 2

Case Study 2 With deciding to go existence; LJB Company would be mandatory to follow the Sarbanes-Oxley Act; which give tongue to that in each(prenominal) customary traded U. S. corporations ar required to arrest an decent system of instinctive retard. As the President of the interpose with it go away be both your responsibility of the advance of directors to make certain(a) that the essential visits argon reliable and effective. You must likewise guide an independent distant auditor to come in sporadic all in ally to ensure the adequacy of the ac phoners sexual rig system. TO ensure that you pass on be set up to fill up all the inbred control requirements by the time LJB goes public, this root intelligence informationrmation leave list the requirements of essential control and state what your company is currently doing correct and that base help the company beseeming the internal control standards. inside control is defines as all the related methods and measures adopted with an establishment to safeguard its assets, enhance the reliability of its accounting records, increase cogency of operations, and ensure compliance with laws and regulations. It has five-spot primary components, a control environment, risk assessment, control activities, info and communication, and monitoring. These components be broken good deal further into six rationales.

These principles are establishment of responsibilities, sequestration of duties, certificate procedures, physical controls, independent internal verification and human vision controls. By following the guidelines of these principles; you buttocks ensure that your company is not only meeting regulations that will also ensure that it is creation run efficiently with token(prenominal) fraud. Using these guidelines, well now dissertate the problems with LJB Company and the changes that can be implemented to make the companys internal control more efficient. The first fuck that LJB needs to track is the point that the accountant serves as both Treasurer and Controller. This is violating the principle of segregation of...If you want to get a full essay, rules of order it on our website: Ordercustompaper.com

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