A Case Study - Internal Control

DATE:February 1, 2012 TO: John Smith, President LJB friendship FROM: SUBJECT: intimate Control Requirements wedded are my findings regarding the inner(a) controls for LJB Company. As we discussed, you and the leaders team train to know where the caller stands with regards to its current remains for midland controls and an unobjectionable internal control system for the company if the company were to go public. Feel free to contact me if you pull in any questions or concerns. ? In the event LBJ Company would resembling to go public, an fitted framework for internal controls is necessary. LBJ Company must give up investors and regulators boldness that operating and pecuniary objectives are being achieved in a manner that is consistent with standards and policies set by constituent 404 of the Sarbanes-Oxley act. The goals and objectives that LBJ Company needs to focus on are hi-fi financial reporting, compliance with laws and regulations, an d effective operations.

As a publically traded company the organization must document and test the internal controls oer financial reporting (ICFR) and issue a record on with the required SEC reporting that bear witnesss to the effectiveness of the internal controls and the financial reporting for the company (Security and Exchange Commission, 2008). In addition, an commutative 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 signing the report are held personally responsible for accurate and complete financial reports and for comp lying with all the requirements set forward! by SOX. The company, you, and the CFO will be subject to fines and evil penalties for not complying with the requirements or for material misrepresentations in the reports attested to be true. The company is performing well financially, and in these difficult scotch times, I applaud the...If you want to get a upright essay, rank it on our website: OrderEssay.net

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