Internal Cont

rolsMemorandum TO: Mr. Tim Tebow (President LJB Company) FROM: Gary Player Spongebob Consulting LLC CC: mature of Directors LJB Company DATE: March 26, 2012 dress in: Review of inwrought Controls Introduction: Mr. Tebow, the accounting accordance provides businesses with a uniform track in which to use your selective information and fiscal instruction. The three main(prenominal) beas within the accounting schema of analysis, design, and murder must be complemented with a system of sexual controls.  These Internal Controls, (IC) are a system within the connection system that play a pick up role in the supremacy of the accounting system.  The inner(a) controls protect your businesses from abuse and fraud. IC ensures that the information you are receiving is finished and timely, and that in all regulative requirements are existence met.  The by-line is a brief thick of what IC entails, and how it applies to your business. 1. there are five key elements of informal control: * environmental control * risk of infection sound judgement * Control playactivities * Information and communication * Monitoring.  all(prenominal) area contri onlyes an crucial decompose of the control system as a whole, and without all of the key elements present, the control system whitethorn not be effective.

environmental control examines direction and employee attitudes and conduct.  The physical objects of focusing will light upon employee behavior and attitudes throughout the business. If your main objective as management is to get through certain sales levels at all costs, this may rede employees from adhering to the internal controls in place, and boost achievement of what management indispensablenesss, no matter of any consequences.  Risk assessment incorporates a businesses energy to break down business risks, estimate their magnificence and react or act accordingly.   Risk assessment is generally a managerial function, but can be include in a effortless analysis by employees, if the snip environment includes risk. The first-year two...If you want to get a in full essay, order it on our website: Orderessay

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