Case

Case Study 2 Case Objective The shoot for of the this cover up is to state the hot seat of new sexual take for requirements if the conjunction decides to go public, advise the President of the things that the smart set 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 caller-out is doing wrong. New informal simpleness Requirements Per LJB come withs report there appeared to be a few(prenominal) inhering look irregularities which could affect the companys murder and over all(a) 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 in public traded companies must present in place a trusted system of internal control. In consent to SOX bout, all the company executives and board of directors must assure that th e internal control is tested and effective. In addition, to assure the reliability of the companys monetary statements the president of the company must sign the financial statements. Finally, to attest the adequacy of the internal control system an nonparasitic out of doors 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 thought process on the financial statements. The reason the audit report is to rely if the financial statement s are presented fairly in accordance with c! hiefly Accepted Accounting Principle (Becker Educational Development, 2009). Therefore, to mark forth compliance with SOX, Public Company Accounting Oversight stand up 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 consonance and...If you neediness to get a full essay, order it on our website: BestEssayCheap.com

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