Fi504 Case Study 2 Week 5 Keller

Dear Sir, Thank you for taking the time to meet with me right away and discuss your concerns with versed controls and security mea authentics. Going public is a big step in the development of a corporation, and you will pay back it off under great scrutiny as to your security principles and internal control mechanisms. My colleague has informed me of some(prenominal) examples of how your business operates and I have prep ared a few remarks and recommendations for you to address antecedent going public. Before I delve into the heart of the matter, I would like to remind you of the objectives of internal control practices: first, to safeguard the assets of the corporation, disgorge the reliability of its accounting practices and records, increase the efficiency of the corporations operations, and en true that its followers laws and regulations. This can be achieved through the following common principles: 1. validation of Responsibility - Setting clear expectat ions of your employees and fashioning for sure 2. requisition of Duties and Segregation of Record Keeping - Making sure that no unity individual remains unchecked by others in his or her activities, and that the selfsame(prenominal) people responsible for certain actions are non alike solely responsible for recording those actions. 3.

Documentation of Procedures - making sure that the expense reports are accurate and that original profit are used for proof. 4.Physical Controls - in order to safeguard proportion against theft and vandalism. Based on those principles, I see some(prenominal) areas of potent ial improvement. Lets consider the scenarios! you have provided: First, it is very important and brain dead crucial that you have faith in long scope employees. However, it is not wise to grant too much micturate to any one single person in your organization, no matter how long theyve been with you. As per the first principle, we believe that your exchequer Controller should be subjected to some segregation of duties and record keeping. Since he is the sole...If you want to get a full essay, order it on our website: BestEssayCheap.com

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