A Case Study - Internal Control

DATE:February 1, 2012 TO: John Smith, President LJB friendship FROM: undefended:Internal Control Requirements get hitched with argon my findings regarding the upcountry controls for LJB keep company. As we discussed, you and the leadership team drawing string to know where the caller stands with regards to its incumbent formation for internal controls and an uncontaminating internal control system for the phoner if the company were to go public. Feel free to get across me if you have any questions or concerns. ? In the event LBJ Company would like to go public, an fitted model for internal controls is necessary. LBJ Company moldiness provide investors and regulators boldness that run and pecuniary objectives are beingness achieved in a demeanor that is consistent with standards and policies effectuate by Section 404 of the Sarbanes-Oxley act. The goals and objectives that LBJ Company postulate to focus on are accurate fiscal insurance coverage, meekness with laws and regulations, and effective operations.

As a publicly traded company the geological formation must document and analyse the internal controls oer financial circulateing (ICFR) and issue a statement on with the infallible SEC reporting that attests to the effectuality of the internal controls and the financial reporting for the company (Security and Exchange Commission, 2008). In addition, an independent attendant must perform independent tests of controls, report and attest to commissions processes and on the effectiveness of the internal controls. By subscribe the attestation, the executives sign the report are held personally accountable for accurate and shade financial reports and for complying with all the requirements set forth by SOX. The company, you, and the chief financial officer will be equal to(p) to fines and criminal penalties for not complying with the requirements or for material misrepresentations in the reports prove to be true. The company is do well financially, and in these rugged economic times, I enjoy the...If you want to get a full essay, rank it on our website: Ordercustompaper.com

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