Case

Case Study 2 Case Objective The aim of the this cover up is to state the chairwoman of new inherent take for requirements if the go with decides to go public, advise the President of the things that the keep guild is doing well and also preach to the President whether or non they should buy the indelible ink machine. Fin exclusivelyy, advise the President of what the confederacy is doing wrong. New informal simpleness Requirements Per LJB companys report there appeared to be a few(prenominal) innate view irregularities which could affect the companys murder and over in all told the company existence. Whether the company decides , to go public , rootage the company must comply with Sarbanes-Oxley Act of 2002(SOX). SOX require that all publicly traded companies must present in place a accepted system of internal control. In consent to SOX ferment, all the company executives and board of directors must assure that the inte rnal control is authentic and effective. In addition, to assure the reliability of the companys financial statements the president of the company must sign the financial statements. Finally, to certify the adequacy of the internal control system an nonparasitic orthogonal audit must be performed (Kimmel, Weygandt, & Kieso, 2009).

In addition, to the SOX act internal control and financial statement should be audited by an independent auditor. The auditors objective auditors is to depict an creed on the financial statements. The reason the audit report is to stomach if the financial statements are pres ented fairly in accordance with primarily A! ccepted Accounting Principle (Becker Educational Development, 2009). Therefore, to mark mop up compliance with SOX, Public Company Accounting Oversight riding horse on (PCAOB), General Accepted Accounting Principles (GAAP), and other laws regulations the company should have in place a reliable internal control. Internal control responsibilities are to safeguard the assets, improve the harmony and...If you neediness to get a full essay, order it on our website: BestEssayCheap.com

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