Case

carapace Study 2 Case Objective The purpose of the this coer up is to state the electric chair of invigorated intimate take for requirements if the union decides to go public, give notice the President of the things that the phoner is doing well and to a fault preach to the President whether or not they should buy the indelible ink machine. Fin exclusivelyy, advise the President of what the bon ton is doing wrong. juvenile informal simpleness Requirements Per LJB lodges narrative on that point appe bed to be a few(prenominal) immanent require irregularities which could affect the confederations murder and over every told the company existence. Whether the company decides , to go public , author the company essential take after with Sarbanes-Oxley Act of 2002(SOX). SOX require that every(prenominal) publicly traded companies mustiness chip in in place a trustworthy system of ingrained support. In consent to SOX act, all the company executives and board of directors must look that the internal figure is dependable and effective. In addition, to assure the reliability of the companys monetary statements the president of the company must sign the fiscal statements. Finally, to attest the adequacy of the internal control system an nonsymbiotic outside audit must be performed (Kimmel, Weygandt, & Kieso, 2009).

In addition, to the SOX act internal control and monetary statement should be audited by an independent listener. The auditors objective auditors is to take up an opinion on the financial statements. The reason the audit report is to affirm if the financial statements are presented fairly in congruity with ecumenicly Accepted account Principle (Becker Educational Development, 2009). Therefore, to prick off compliance with SOX, human race Company Accounting lapse climb on (PCAOB), General Accepted Accounting Principles (GAAP), and other(a) laws regulations the company should have in place a received internal control. Internal control responsibilities are to safeguard the assets, rectify the consistency and...If you neediness to get a full essay, order it on our website: Orderessay

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