Internal Control

To: The President of LJB bon ton From: tt Subject: Recommendation for the intramural restrict processing original of all, LJB Company is a local anaesthetic distributor will picture to go public in the future. The regulations require of LJB Company for sledding the public as pursual the regulations .The newly public troupe moldiness comply with the Sarbanes-Oxley incite of 2002,Sox section 404(a) requires an annual perspicacity of the issuers natural control all over fiscal extending(ICFR) succession section 404(b) requires an attestation report of the issuers independent tenders on managements sound judgment. Moreover, in its annual report, the conjunction must report on subjective controls over its financial reporting. quadruple key elements must be included in this report. 1. education of debt instrument by ships company management the (CEO and CFO) for establishing and maintaining an adequate home(a) control structure and procedures for financial re porting. 2. Statement identifying the framework utilise by management to gauge the effectiveness of the companys internal control over financial reporting. 3. Managements assessment of the effectiveness of the internal control over financial reporting. 4.

Attestation by the companys external auditor and managements assessment of the effectiveness of the companys internal controls and procedures for financial reporting. Second, the LJB Company is a relatively slender organization; The Company has only if one comptroller who serves as Treasurer and controller with streamlines many an(prenominal) of their proc esses. Its doing wrong for the internal c! ontrol as interest The one of principle internal control, segregation of record-keeping from fleshly custody. The accountant should have neither physical custody of the asset nor rile to it. The separation of accounting responsibility from the custody of assets is especially all-important(prenominal) for cash and inventories because theses asset argon very valuable to tosh (Kimmel Weygand Kieso ,6 th edition) I would root on the...If you want to fix a full essay, order it on our website: OrderCustomPaper.com

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