Internal Control

To: The President of LJB troupe From: tt Subject: recommendation for the intragroup chink processing fender of all, LJB Company is a local anesthetic distributor will word picture to go public in the future. The regulations require of LJB Company for sled the public as quest(a) the regulations .The newly public ships phoner moldiness comply with the Sarbanes-Oxley crook of 2002,Sox section 404(a) requires an annual perspicacity of the issuers inherent control everywhere fiscal hatching(ICFR) taking over section 404(b) requires an attestation report of the issuers independent tenders on managements appraisal. Moreover, in its annual report, the partnership essential report on subjective controls over its monetary reporting. quad key elements must be included in this report. 1. upbringing of debt instrument by company management the (CEO and CFO) for establishing and maintaining an adequate internecine control structure and procedures for fiscal reporting. 2. Statement identifying the framework habituate by management to measure the effectiveness of the companys essential control over financial reporting. 3. Managements assessment of the effectiveness of the inside control over financial reporting. 4.

Attestation by the companys external attender and managements assessment of the effectiveness of the companys congenital controls and procedures for financial reporting. Second, the LJB Company is a relatively minute organization; The Company has alto shither one accountant who serves as Treasurer and controller with streamlines many another(prenominal) of their processes. Its doing wrong for the internal control as following The one of principle internal control, segregation of record-keeping from fleshly custody. The accountant should have neither fleshly custody of the asset nor regain to it. The separation of accounting right from the custody of assets is especially authorized for cash and inventories because theses asset are very valuable to tommyrot (Kimmel Weygand Kieso ,6 th edition) I would nail down on the...If you want to get a full essay, narrate it on our website: Orderessay

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