Thank you for taking the time to meet with me today and discuss your concerns with versed controls and security. Going public is a puffy step in the development of a corporation, and you will have 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 earlier 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, purify the reliability of its accounting practices and records, increase the efficiency of the corporations operations, and en reliable that its followers laws and regulations. This can be achieved through the following general principles:
1. validation of Responsibility - Setting clear expectations of your employees and making 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 not alike solely responsible for recording those actions.
3.
Documentation of Procedures - making sure that the expense reports are accurate and that original receipts are used for proof.
4.Physical Controls - in order to safeguard dimension against theft and vandalism.
Based on those principles, I see several areas of potential improvement. Lets consider the scenarios you have provided:
First, it is very important and dead crucial that you have faith in long circumstance employees. However, it is not wise to grant too much cause 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: Orderessay
If you want to get a full essay, wisit our page: write my essay .
No comments:
Post a Comment