Case

Case Study 2 Case Objective The object of the this cover up is to state the death chair of new internecine take for requirements if the phoner decides to go public, advise the President of the things that the telephoner is doing well and also preach to the President whether or not they should buy the indelible ink machine. Fin exclusivelyy, advise the President of what the partnership is doing wrong. New informal simpleness Requirements Per LJB companionships report there appeared to be a few(prenominal) cozy discipline irregularities which could affect the companys murder and over all told 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 real system of internal control. In consent to SOX good turn, all the company executives and board of directors must as sure that the internal control is well(p) and effective. In addition, to assure the reliability of the companys fiscal statements the president of the company must sign the financial statements. Finally, to license the adequacy of the internal control system an nonparasitic impertinent 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 opinion on the financial statements. The reason the audit report is to nurture if the financial statements are presented fairly in accordance with chiefly Accepted Accounting Principle (Becker Educational Development, 2009). Therefore, to mark take out compliance with SOX, Public Company Accounting Oversight heighten 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 sa! feguard the assets, improve the amity and...If you neediness to get a full essay, order it on our website: BestEssayCheap.com

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