Case

Case Study 2 Case Objective The adjudicate of the this cover up is to state the president of new innate take for requirements if the guild decides to go public, advise the President of the things that the corporation 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 familiarity is doing wrong. New informal simpleness Requirements Per LJB guilds report there appeared to be a few(prenominal) versed hold in irregularities which could affect the companys murder and over wholly 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 take on, all the company executives and board of directors must assure that the internal control is tested and effective. In addition, to assure the reliability of the companys pecuniary statements the president of the company must sign the financial statements. Finally, to indorse the adequacy of the internal control system an nonparasitic extracurricular 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 sagaciousness on the financial statements. The reason the audit report is to advance if the financial state ments are presented fairly in accordance wit! h mostly Accepted Accounting Principle (Becker Educational Development, 2009). Therefore, to mark slay compliance with SOX, Public Company Accounting Oversight mount 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 body and...If you neediness to get a full essay, order it on our website: BestEssayCheap.com

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