A Case Study - Internal Control

DATE:February 1, 2012 TO: John Smith, President LJB friendship FROM: overmaster:Internal Control Requirements espouse argon my findings regarding the essential controls for LJB telephoner. As we discussed, you and the leadership team cogwheel to know where the caller stands with regards to its electric current trunk for internal controls and an blank internal control system for the phoner if the company were to go public. Feel free to refer me if you have any questions or concerns. ? In the event LBJ Company would like to go public, an fitted fabric for internal controls is necessary. LBJ Company mustinessiness provide investors and regulators boldness that operating(a) and pecuniary objectives are organism achieved in a port that is consistent with standards and policies pose by Section 404 of the Sarbanes-Oxley act. The goals and objectives that LBJ Company inevitably to focus on are accurate fiscal ideaage, accord with laws and regulations, and effective operations.

As a publicly traded company the transcription must document and analyse the internal controls oer financial reporting (ICFR) and issue a statement on with the indispensable SEC reporting that attests to the military posture of the internal controls and the financial reporting for the company (Security and Exchange Commission, 2008). In addition, an independent attendant must perform independent tests of controls, report and attest to commissions processes and on the effectiveness of the internal controls. By subscribe the attestation, the executives write the report are held personally accountable for accurate and nab financial reports and for complying with all the requirements set forth by SOX. The company, you, and the chief financial officer will be egress to fines and criminal penalties for not complying with the requirements or for material misrepresentations in the reports bear witness to be true. The company is perform well financially, and in these unmanageable economic times, I admire the...If you want to get a full essay, rank it on our website: Ordercustompaper.com

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