Recommendation Brief For Abz Company Essay

593 words - 3 pages

Recommendation Brief for an Internal Accountant for ABZ Company

The importance of internal controls in an organization or a company cannot be over-emphasized in the wake of various laws geared toward protecting investors in publicly traded companies, especially the most recent Sarbanes–Oxley Act of 2002, which requires top management to include in its annual report a statement showing responsibility for establishing and maintaining adequate internal control over financial reporting.
Stabilizing the company’s ship on turbulent financial waters or scaling mountains of government regulations will require strong and effective internal control.

The main objective of internal audit function is ensuring the achievement of a company’s objective in a broad perspective, which includes operations, financial reporting, and compliance to laws and regulation.
According to Cain (2010) “The benefit of internal audit is to ensure that the business is achieving its objectives, ...view middle of the document...

d.), "Internal auditors serve in a self-evaluative or self-assessing function. They compare existing conditions ("what is") to a standard ("what should be") and suggest how to achieve the ideal.”

Companies and corporations multiply and economies and businesses face challenges of competition, survival, and expansion, effective internal audit or control is the answer to checkmate the ugliness of fraud, corruption, loss, and eventual liquidation. So when a company has an out-of control system, if it will not go under waters, there is an urgent need to hire an internal auditor.

ABZ company’s effort to hire an internal auditor is crucial to its survival in this moment of financial turbulence and the pay off will be worth it in the end.

Blessing H. Shiloh, CPA, IIA, is a good candidate for the position of internal auditor for ABZ Company.
Blessing Shiloh worked with Shell Company for 15 years in the audit department after she qualified as CPA and for five years as the head of Internal Audit department of the University of Pennsylvania. She became a licensed internal auditor in 1990 and has received many merit awards for meritorious and courageous services that have benefited not a few organizations. She also doubles as a professor of Internal Audit at the Accounting Department at Baylor University.

If hired, Blessing Shiloh will be ready to work on contract basis. This will reduce greatly the overhead cost of hiring on permanent level. Bringing in her experience of many years of working with different types of businesses will be a plus to her service in normalizing the financial situation of ABZ Company and arriving at the management objectives.
REFERENCES

Cain, J. (2010, May). The advantages of internal audit. Finance Director,

Cytraus, A. (n.d.). INTERNAL AUDITING -duties, benefits. Retrieved from http://www.referenceforbusiness.com/encyclopedia/Inc-Int/Internal-Auditing.html#ixzz2Dqj23P6b
Standards Items. (). Retrieved from http://www.theiia.org/guidance/standards-and-guidance/ippf/standards/standards-items/?i=8267

|RECOMMENDATION BRIEF FOR ABZ COMPANY | PAGE \* MERGEFORMAT 3 |

|Running head: RECOMMENDATION BRIEF FOR ABZ COMPANY | PAGE \* MERGEFORMAT 1 |

Other Papers Like Recommendation Brief for Abz Company

Entertainment Instruction Essay

580 words - 3 pages brief recommendation, selecting one of your suggested growth opportunities. Give a rationale for your choice and provide suggestions for how the company can achieve this growth opportunity.—( When make the suggestions, please be specific, which means to give a example to explain your suggestion with the explanation of theories.) 5. (No limit). Appendices and bibliography using the APA or MLA format. 1 point will be deducted for submissions with improper formatting. All the pages listed is for single spaced, which meaning you need to double the pages for each content. This is why I ordered 6 pages. Thank you!

Cib Summary Essay

325 words - 2 pages * Punishments and rewards (to stimulate the initiatives of the companies) Recommendation 1: Benefits * Assessments from the independent third party will be more accurate and encourage companies to do better. * Share and discuss the environmental technologies can promote the development of new technologies. * Win-win situation for shareholders from different companies. * There will be a better living environment for host

Recommendation for Internal Control Auditor

708 words - 3 pages Recommendation Brief for an Internal Accountant Recommendation Brief for an Internal Accountant Internal accountants or auditors can be beneficial to a company when there are problems within their accounting functions that are causing harm to the financial records. Internal auditors are able to perform many different tasks for the company and if they are an employee of the company already, it can save time when there is an issue

Solutions to Brief Exercises

2707 words - 11 pages EXERCISE 7-17 National American Bank (Creditor): Bad Debt Expense 225,000 Allowance for Doubtful Accounts 225,000 Chapter 8 BRIEF EXERCISE 8-1 |RIVERA COMPANY | |Balance Sheet (Partial

ACC 556 Tutorials / acc556dotcom

564 words - 3 pages nature of the company and the evidence provided to you, you must determine which financial statement fraud schemes would likely be present in the company. Resource: Apollo Shoes Casebook Identify potential financial statement fraud schemes by using the Apollo Shoes Casebook. Describe the types of evidence you would look for to determine whether fraud is occurring. Write a business brief of no more than 1,050 words that outlines how you will

Ucla Information

1120 words - 5 pages supporting materials must be postmarked no later than June 30. Name of high school teacher, counselor, or administrator who will write your letter of recommendation: Submit completed application to: Leah Bettelman Educational Scholarship UCLA Scholarship Resource Center 330 De Neve Drive 233 Covel Commons Los Angeles, CA 90024 FOR OFFICE USE ONLY – DATE RECEIVED: Page 3 of 3 UCLA Division of Undergraduate Education Leah Bettelman

Audit Project

591 words - 3 pages the guide question does not apply or cannot be answered for that specific company, it may be not answered.) I. Manufacturing A. Name of Company Visited 1. Company Profile * Short description of the company visited. * Vision, Mission, Values * Products manufactured * Other related information pertaining to the company 2. Observations and other related activities * Short factual narration of the experience during the visit

Data Analysis

1241 words - 5 pages food industry. As a company, Kudler needs to evaluate their design elements of the data tables that are needed for review from an accounting perspective. An entity relationship program would need to be developed showing the past data tables. A recommendation would need to be met for improvements or changes. With providing vital information in the pivot tables, then this will improve making decisions for every department at Kudler Fine Foods. By

Jdt2 Task 3

1786 words - 8 pages and the company. The candidate provides an appropriate recommendation, with no support, of preappraisal activities that ensure the performance appraisal process is beneficial to the employee and the company. The candidate provides an appropriate recommendation, with limited support, of preappraisal activities that ensure the performance appraisal process is beneficial to the employee and the company. The candidate provides an appropriate

Select Appropriate Algorithms

401 words - 2 pages encryption solution that best prevents a competitor from receiving confidential information and justify the recommendation. 2. Top Ads is a small advertising company consisting of 12 computers that have Internet access. All employees communicate using smartphones. Top Ads' primary concern is protecting the data on the smartphones. Select an encryption solution that best protects the smartphones and justify the recommendation. 3. NetSecIT is a

Cango Recommendations

696 words - 3 pages Recommendations For our recommendations we first and foremost wanted to start strictly within the company. Organization is one of the most important aspects of any business and will contribute to continual success. Our first recommendation Is to implementation if a mission statement. A mission statement is a shared vision of what your company is all about and is important not only to let your customers or potential customers know what you

Related Essays

Recommendation Brief For An Internal Accountant

674 words - 3 pages . The audits can determine if the products or services are marketed at the right prices and will help in meeting your short and long term financial goals. A CPA audited financial statement will put investors at ease of the accuracy of the information provided. It will provide Recommendation Brief for an Internal Accountant 3 confidence that the books are accurate and lenders will view the company as more reputable, leading to

Recommendation For Kudler Fine Food Company

2518 words - 11 pages Recommendation for Kudler Fine Food Company Introduction Kudler Fine Foods is known for its food stores. Kudler Fine Foods (KFF) in La Jolla is a gourmet fine food store. The company was founded by Kathy Kudler. The company is profitable, stable and successfully running the business. Heidi Wagner heads the Human resource department. The major responsibility of the HR is to align the administrative and human resource activities including

Business Essay

617 words - 3 pages Strong Tie LTD. How are profits holding up, given the intense price competition in the industry? Were attempts to lower costs through more automation paying off? Were the current problems in the U.S housing market going to continue to reduce demand for connectors? How would lenders react to this poor performance? Was the company’s financing in danger? Just by a brief glance at the balance sheet it could already be determined that

Reccomendation Brief For An Internal Audit

644 words - 3 pages Recommendation Brief for an Internal Auditor Jennifer Perkins December 9, 2013 ACC 544 Tracie Youngblood An internal auditor certifies a company’s financial statements are timely, relevant, and reliable. According to the American Accounting Association (1973), “Auditing is a systematic process of objectivity obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of