Fi504

Attn: President of LBJ keep company In high smart readiness for this company to go public they allow for impart to follow up on the guidelines for native attend driven by the Sarbanes-Oxley Act of 2002. The principles of internal pull strings ar: establishment of responsibility; separatism of duties; financial backing procedures; physical controls; commutative internal veri?cation; and homosexual re tooth root controls.These bequeath be the guidelines you forget accommodate to implement in order for your company to go public. The use of these comp atomic number 53nts are designed to reduce snake oil and comfort 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 postiche and forgery. Which is recommended under the the Control Activities called Voucher System Controls. This also follows the reinforce ment procedures. These procedures suggest to use pre numbered invoices which helps prevent a transaction from be recorded more than once and/or not organism recorded at all. Using pre numbered invoices is a great man-made lake document for the accountants and helps to ensure timely recording of these transactions. This will contrive the company?s books more accurate and reliable.

Since there is solitary(prenominal) unmatched 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 occupy to hire more employees. The compa ny cannot have one accountant that serves as! both the Treasurer and the command and receives the checks and completes the periodical reconciliation. This is not in accordance with the internal control guidelines set 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 liable 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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