Internal Control

I am writing to provide you with an accounting consulting get over based upon the meeting you had with my colleague. With the information given to me, I extend alone report my observations and recommendations for your consideration. This report outlines the objectives and goals of this consultation, the methods in which we volition compass them, the observations I admit made, and any other issues I adopt noted. Objectives & Goals: 1) release a highly efficient distributing company in a public environment. 2) Establish internal control procedures to guard duty LJB fraternitys assets, enhance the reliability of its accounting records, outgrowth dexterity of operations and ensure compliance with laws and regulations. 3) Improve immediate payment circumspection policies and procedures. 4) Create a screening process for air candidates to fit the integrity of a potential hire. Executive succinct: When you cull to go public, you will find that you will demoralise to initiate at an increased rate. As external parties lay out commit in your company, you will obtain more assets. You will experience greater demand for your product, and will have to check at a greater capacity. Thus, you will need to bulwark your assets and increase efficiency for the sake of your company and its future stockholders.

To do so, I recommend the following internal control procedures in the aras that I feel are lacking control: By having your comptroller trustworthy for so many different things, you are violating an principal(prenominal) part of internal control se gregation of duties. Different vision need! to be accountable for related activities to reduce fraud, errors, and irregularities. The control shouldnt be in the dual role as treasurer and controller. You need to have one person responsible for purchasing supplies, and another person responsible for the payment. The accountant should have neither physical custody of the asset nor access to it. Likewise, the keeper of the asset should not...If you want to get a full essay, identify it on our website: OrderCustomPaper.com

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