Case Study 2 Fi504

Mr. President: It is my understanding that your keep guild, LJB Company, wishes to move forward and perform a popular entity. Im glad my truehearted cornerstone be of assistance in helping your company feign this transaction. First we must review any bare-ass rules or regulations that apply to private companies converting public. In 2002 the U.S. enacted the Sarbanes-Oxley Act which mandates variant edible aimed at strengthening bodily accountability and brass and bear upon the fiduciary state of both officers and directors of public companies. As direct in section 404 of the Act, the Securities and Exchange Commission (SEC) is requiring the maintenance of public companies to report on the internal controls of their organization in their one-year reports including: a statement of managements responsibility in establishing and maintaining the companys internal controls over fiscal reporting, managements assessment of the effectiveness of these controls, and an identification of the exemplar utilize to evaluate the effectiveness of the internal controls. Good corporate governance within an organization may make a company more attractive to potential buyers, investors, and other chapiter sources. I would also like to touch base on any(prenominal) of things that were reported to me that I nursed that your company was doing right. Your company is doing a fine job investing in its long-term employees especi whollyy with your accountant. The role of accountants extends to treasurer and controller as well. I chink your accountant should be responsible for purchases and completing monthly camber reconciliations. I suggest that your company invest in the inexpungible ink machine for large quantities back end be produced and this can also help your internal control by cosmos able to trace the printed checks. Your company is doing a heel of things pervert when it comes to internal controls. The risk of fraud, and the cost associated with it, exists in all ! organizations, not just public...If you want to get a integral essay, regularize it on our website: OrderCustomPaper.com

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