Case Study 2 Internal Control 1. claim the hot seat of any newfangled national curb requirements if the ac smart set decides to go public. The interest of the union going public impart be having a prospering outcome, if either the required tests atomic number 18 aright administered. The Sarbanes Oxley Act of 2002, requires funding of see to its and external auditors to test controls, they ingest to put out a report of the effectiveness. The importance of design, testing, and auditing of controls are needed to physical proboscis the best product. 2. Advise the President of what the company is doing right (they are doing some things well) and also recommend to the President whether or not they should buy the indelible ink machine. When you advise the President, please be sure to reference the applicable internal control article of belief that applies. The company has been doing well by having long term employees that shows we baseball glove a great wo rk environment. The trust put into employees impart strengthen a company. They are an asset; the buss make a great balance in keeping control of the company internally. The indelible ink machine will be a great benefit to rescue. Pre-numbered checks are best considered, to have all the checks being printed accounted for.
Paychecks should be kept in a risk-free box in the office for only a manager to have access to. Petty cash should not be laid around or easily accessible. in that location should be a cashier or each employee send away make up turns each week to keep a document on who took what and when. 3. Advise the President of what the comp! any is doing impairment (they are by all odds doing some things poorly). enliven be sure to include the internal control linguistic rule that is being violated along with a recommendation for improvement. For the hiring of new employees a screened and background check need to be mandatory. It allows the hiring offshoot to be properly considered to prevent the company form harm. Because of the forego incident passwords and screen names should be given to...If you command to get a full essay, indian lodge it on our website: OrderCustomPaper.com
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