Fi504 Case Study 2 Week 5 Keller

Dear Sir, Thank you for taking the time to meet with me straight off and discuss your concerns with versed controls and gage. Going public is a declamatory step in the development of a corporation, and you will overhear it off under great scrutiny as to your security principles and internal control mechanisms. My colleague has informed me of some(prenominal) examples of how your business operates and I have prep ared a few remarks and recommendations for you to address primitively going public. Before I delve into the heart of the matter, I would like to remind you of the objectives of internal control practices: first, to safeguard the assets of the corporation, vomit up the reliability of its accounting practices and records, increase the efficiency of the corporations operations, and en tried that its followers laws and regulations. This can be achieved through the following global principles: 1. validation of Responsibility - Setting clear expectations of your employees and devising trusted 2. requisition of Duties and Segregation of Record Keeping - Making sure as shooting that no unity individual remains unchecked by others in his or her activities, and that the selfsame(prenominal) people responsible for certain actions are not alike solely responsible for recording those actions. 3.

Documentation of Procedures - making sure that the expense reports are accurate and that original service are used for proof. 4.Physical Controls - in order to safeguard property against theft and vandalism. Based on those principles, I see some(prenominal) areas of potential impr ovement. Lets consider the scenarios you hav! e provided: First, it is very important and utterly crucial that you have faith in long experimental condition employees. However, it is not wise to grant too much thrust to any one single person in your organization, no matter how long theyve been with you. As per the first principle, we believe that your treasury Controller should be subjected to some segregation of duties and record keeping. Since he is the sole...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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