LJB COMPANY: Internal Control Review I. NEW INTERNAL CONTROL REQUIREMENTS FOR GOING PUBLIC Sarbanes-Oxley Act of 2002 (SOX)‚ enacted on July 29‚2002‚ is a United States Federal law that imposed new rules and regulations for all US public companies. Under SOX Section 404‚ all publicly listed corporations are required to maintain an adequate system of internal control. Under SOX‚ corporate executives and the board of directors are personally responsible for making sure that the internal
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Content Introduction…………………………………………………………………………...3 Public Offering….….….………………….………………….…………….…………3 Getting it Right………………………….………………….…………………………4 Things to Ponder…………….………….………………….…………………………5 Conclusion……………………………………………………………………….......7 References……………………………………………………………………….......8 Introduction LJB Company wishes to move forward and become a public entity. Good corporate governance within an organization may make a company more attractive to potential buyers‚ investors
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Case Study 2 – Internal Control TO: LJB Company President FROM: Accounting Firm DATE: August 12‚ 2012 SUBJECT: Internal Control It is with great pleasure that we can provide you information and advisement on internal controls that will assist LJB Company with going public. We understand that you have communicated your concerns and expect that this report will assist you with deriving conclusions. This report will: 1. Inform you of any new internal control requirements in reference to going
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LJB Internal Control Procedures and Recommendations Table of Contents Introduction 3 Internal Controls Before Going Public 3 Correct Internal Control Procedures 4 Internal Control Discrepancies 4 Indelible Ink Recommendation 6 Summary 6 Works Cited 8 Analysis of LJB Internal Controls and Recommendations Introduction Assigned to review the internal control procedures for LJB‚ I will take a close
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represents something or merely because they fond it. Tattoos have been around for thousands of years. They have been used including for marks of status and rank. For example‚ tattoos were used to mark slaves and criminals. An indelible tattoo is made by inserting permanent ink into the dermis layer of the skin to modify the pigmentation and therefore make the color of the design visible. In spite of the fact that tattoos may be awe-inspiring and symbolic‚ one has to take in mind the various risks that
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Griffin‚ A.C.‚ & Luck‚ J.M. (1949). Tissue proteins and carcinogenesis. Electrophoretic studies of serum proteins during carcinogenesis due to azo dyes. Journal of Biological Chemistry‚ 177(1)‚ 373–381. Helmenstine‚ A.M. (2002). The liquid part of tattoo ink. Retrieved December 12‚ 2002‚ from http://www.chemistry.about .com/library/weekly12-2-08 Hudson‚ K.L. (2009). Tattoos and tanning: The sun is your tattoo’s worst enemy. Retrieved February 25‚ 2009‚ from http:// tattoo.about.com/cs/tatfaq/a/tanning
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Research Journal of Information Technology 3(2): 91-98‚ 2011 ISSN: 2041-3114 © Maxwell Scientific Organization‚ 2011 Submitted: July 22‚ 2011 Accepted: August 27‚ 2011 Published: September 30‚ 2011 The Design of an Electronic Voting System G.O. Ofori-Dwumfuo and E. Paatey Methodist University College‚ Ghana Abstract: The aim of this study is to design an electronic voting system based upon the electoral process adopted in Ghana. In recent years‚ information technology has greatly affected
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is a registered voter‚ then goes to the voting area and chooses the candidates he likes. After that‚ the student submits the filled-up ballot form to the voting administrator in order for his votes to be cast. Then the student is marked with an indelible ink to signify that he has already voted. After all the votes have been cast‚ the voting procedure goes again through several processes. The votes are collected and are then counted‚ which could take several hours to several days‚ depending on the
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Case Study 2-Internal Controls 2014 ACCT 504 Table of Contents I) Introduction II) Internal Control Requirements-Sarbanes/Oxley Act III) Internal Controls-Strengths IV) Internal Controls-Opportunities for Improvement Introduction It has come to the attention of the president of LJB Company that an evaluation is needed to determine the reliability and level of compliance of the company’s
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from being mishandled or stolen. Documentation procedures are being used as well. I noticed that the accountant is using pre-numbered invoices for the company’s transactions. It was also mentioned to me that the accountant wants to purchase an indelible ink machine in order to print company checks. This is not advantageous decision. This violates the Segregation of duties internal control. The internal control states‚ “The responsibility for record keeping for an asset should be separate from physical
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