1. Inform the hot seat of any new national control requirements if the ac smart set decides to go public.
The interest of the company going public impart be having a successful outcome, if either the required tests are aright administered. The Sarbanes Oxley Act of 2002, requires documentation of controls 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 body 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 dogma that applies.
The company has been doing well by having long term employees that shows we hand a great work environment. The trust put into employees will strengthen a company. They are an asset; the buss have a great balance in keeping control of the company internally. The indelible ink machine will be a great benefit to have. 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. There should be a cashier or each employee can make up turns each week to keep a document on who took what and when.
3. Advise the President of what the company is doing wrong (they are by all odds doing some things poorly). Please be sure to include the internal control principle 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 process to be properly considered to prevent the company form harm. Because of the recant incident passwords and screen names should be given to...If you want to get a full essay, indian lodge it on our website: Orderessay
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