Internal Control

To: The President of LJB friendship From: tt Subject: Recommendation for the inseparable catch 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 spare-time activity the regulations .The newly public troupe moldiness comply with the Sarbanes-Oxley round of 2002,Sox section 404(a) requires an annual perspicacity of the issuers unobjective control all over fiscal billing(ICFR) succession section 404(b) requires an attestation report of the issuers independent tenders on managements appraisal. Moreover, in its annual report, the union must report on subjective controls over its financial reporting. quadruple key elements must be included in this report. 1. education of debt instrument by go with management the (CEO and CFO) for establishing and maintaining an adequate internal control structure and procedures for financial report ing. 2. Statement identifying the framework utilise by management to value 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 sole(prenominal) one control who serves as Treasurer and controller with streamlines some(prenominal) of their processe s. Its doing wrong for the internal contr! ol as chase The one of principle internal control, segregation of record-keeping from fleshly custody. The accountant should have neither physical custody of the asset nor advance to it. The separation of accounting responsibility from the custody of assets is especially in-chief(postnominal) for cash and inventories because theses asset argon very valuable to travesty (Kimmel Weygand Kieso ,6 th edition) I would root on the...If you want to drop dead a full essay, order it on our website: OrderCustomPaper.com

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