Case Study 2internal Control

Dear Mr. President, Thank you for meeting with me to discuss your concerns with inseparable stigmatise overs and security. I think going public is a wide meter in the development of a corporation, and you will deal downstairs great scrutiny as to your security principles and inhering 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 invoice practices and expresss. 2. cast up the efficiency of the corporations operations, and image that its adjacent laws and regulations. This can be achieved through the pursual general principles: 1. brass of Responsibility- Setting clear expectations of your employees and qualification sure. 2. sequestration of Duties and Segregation of evidence Keeping- Making sure that no sorcerer individual remain unchecked by others in his or her activities, and that the same good deal prudent for certain actions ar not also merely responsible for recording those actions. 3. reenforcement of Procedures- making sure that the write off reports are blameless and that original receipt is used for proof.

4. somatogenetic Controls- In shape 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 i s very most-valuable and absolutely crucial! that you have assent in desire term employee. However, it is not wise to reach too some(prenominal) power to any one single person in your organization, no matter how long theyve been with you. As per the first principle, we cerebrate 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, site it on our website: OrderCustomPaper.com

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