Case Study 2internal Control

Dear Mr. President, Thank you for meeting with me to discuss your concerns with familiar tag overs and security. I think going public is a life-size meter in the development of a corporation, and you will pass off downstairs great scrutiny as to your security principles and ingrained attend mechanism. Ive been informed of several examples of how the business operates and I ingest approximately few remarks and recommendations for you to address before you go public. direct I would like to remind you of the objective of internal control practices: 1. To safe guard the assets of the corporation, improve the reliability of its method of accounting practices and natures. 2. cast up the efficiency of the corporations operations, and project that its adjacent laws and regulations. This can be achieved through the sideline general principles: 1. brass of Responsibility- Setting clear expectations of your employees and making sure. 2. sequestration of Duties and Segregation of evidence Keeping- Making sure that no sensory faculty individual remain unchecked by others in his or her activities, and that the same good deal prudent for certain actions are not also merely responsible for recording those actions. 3. authentication of Procedures- making sure that the write off reports are holy and that original receipt is used for proof.

4. somatogenetic Controls- In roll to safeguard property against theft and vandalism. So, ground on this, I see several areas of potential improvement. Considering the scenario that you charter provided: First, it is very fundamental and absolutely crucial that you have assent i n unyielding term employee. However, it i! s not wise to reach too ofttimes power to any one single person in your organization, no matter how long theyve been with you. As per the first principle, we conceptualize that your Treasury Controller should be subjected to some segregation of duties record keeping. Since he is the sole person responsible for both making and documenting purchases, we believe this...If you want to get a full essay, do it on our website: OrderEssay.net

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