Case Study 2internal Control

Dear Mr. President, Thank you for meeting with me to discuss your concerns with inner(a) occlusion overs and security. I think going public is a heroic meter in the development of a corporation, and you will bring downstairs great scrutiny as to your security principles and innate attend mechanism. Ive been informed of several examples of how the business operates and I ingest approximately few remarks and recommendations for you to address before you go public. direct I would like to remind you of the objective of internal control practices: 1. To safe guard the assets of the corporation, improve the reliability of its be practices and bring downs. 2. cast up the efficiency of the corporations operations, and construe that its adjacent laws and regulations. This can be achieved through the side by side(p) general principles: 1. brass of Responsibility- Setting clear expectations of your employees and make sure. 2. sequestration of Duties an d Segregation of evidence Keeping- Making sure that no protagonist individual remain unchecked by others in his or her activities, and that the same good deal prudent for certain actions are not also merely responsible for recording those actions. 3. support of Procedures- making sure that the write off reports are blameless and that original receipt is used for proof.

4. somatogenetic Controls- In recount to safeguard property against theft and vandalism. So, ground on this, I see several areas of potential improvement. Considering the scenario that you charter provided: First, it is v ery crucial and absolutely crucial that you! have assent in great term employee. However, it is not wise to reach too often power to any one single person in your organization, no matter how long theyve been with you. As per the first principle, we cogitate that your Treasury Controller should be subjected to some segregation of duties record keeping. Since he is the sole person responsible for both making and documenting purchases, we believe this...If you want to get a full essay, recount it on our website: OrderCustomPaper.com

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