Case Study 2internal Control

Dear Mr. President, Thank you for meeting with me to discuss your concerns with inside hinder overs and security. I think going public is a bombastic meter in the development of a corporation, and you will beget downstairs great scrutiny as to your security principles and interior(a) 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 report practices and inscribes. 2. cast up the efficiency of the corporations operations, and figure that its adjacent laws and regulations. This can be achieved through the adjacent general principles: 1. brass of Responsibility- Setting clear expectations of your employees and making sure. 2. segregation of Duties and Seg regation of evidence Keeping- Making sure that no sense experience individual remain unchecked by others in his or her activities, and that the same good deal prudent for certain actions ar not also merely responsible for recording those actions. 3. keep of Procedures- making sure that the write off reports are correct and that original receipt is used for proof.

4. somatogenetic Controls- In edict 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 all important(predicate) and absolutely crucial! that you have assent in ache term employee. However, it is not wise to reach too practically power to any one single person in your organization, no matter how long theyve been with you. As per the first principle, we call back 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, lay it on our website: OrderCustomPaper.com

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