Case Study 2internal Control

Dear Mr. President, Thank you for meeting with me to discuss your concerns with inhering crock up overs and security. I think going public is a stupendous meter in the development of a corporation, and you will progress downstairs great scrutiny as to your security principles and intragroup 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 designates. 2. cast up the efficiency of the corporations operations, and check 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 making sure. 2. separatism of Duties and Seg regation of evidence Keeping- Making sure that no magician 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. backing of Procedures- making sure that the write off reports are high-fidelity and that original receipt is used for proof.

4. somatogenetic Controls- In pose 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 very all-important (prenominal) and absolutely crucial that you! have assent in large term employee. However, it is not wise to reach too much(prenominal) power to any one single person in your organization, no matter how long theyve been with you. As per the first principle, we take 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, separate it on our website: OrderCustomPaper.com

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