Internal Control

I am writing to provide you with an accounting consulting brood based upon the meeting you had with my colleague. With the information given to me, I leave alone report my observations and recommendations for your consideration.

This report outlines the objectives and goals of this consultation, the methods in which we will achieve them, the observations I admit made, and any other issues I have noted.

Objectives & Goals:

1) release a highly efficient distributing company in a public environment.

2) Establish internal control procedures to safeguard LJB fraternitys assets, enhance the reliability of its accounting records, ontogeny dexterity of operations and ensure compliance with laws and regulations.

3) Improve cash circumspection policies and procedures.

4) Create a screening process for job candidates to fit the integrity of a potential hire.

Executive Summary:

When you cull to go public, you will find that you will begin to initiate at an increased rate. As external parties start commit in your company, you will obtain more assets. You will experience greater demand for your product, and will have to operate at a greater capacity. Thus, you will need to safeguard 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 areas 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 segregation of duties. Different plenty need to be responsible for related activities to reduce fraud, errors, and irregularities. The accountant 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 custodian of the asset should not...If you want to get a full essay, localise it on our website: Orderessay



If you want to get a full essay, wisit our page: write my essay .