Recommendation For Internal Control Auditor Essay

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 because he or she has the knowledge of the internal control systems and may be able to fix the bug or problem in less time. Internal auditors are usually employed because they can compare what the company has now and what it should be in order to stay in ...view middle of the document...

Technology and outside threats are constantly changing and the internal auditor will be able to alert the company at the first sign of trouble or if an employee was attempting to commit fraud by trying to override the internal controls of the system.
Qualifications of an Internal Auditor
The company should use care and caution when choosing an internal auditor because it is necessary to check to see if the person is qualified for the position. An internal auditor should have three to five years of experience and a Bachelor’s or Master’s degree in accounting or finance. It is also helpful if he or she has some sort of certification from the Institute of Internal Auditors that can be obtained after working as an internal auditor for two years and passing a four part exam (United States Department of Labor, 2011). The auditor should also have good ethical standards as well as independence from the company and should abide and follow the rules as set forth by the AICPA so his or her standards are not called into question (United States...

Other Papers Like Recommendation for Internal Control Auditor

Internal Controls Essay

777 words - 4 pages Internal Auditor Ron Mathieu ACC/544 July 29, 2013 Joseph Poletti Internal Auditor A recommendation has been made for a publicly traded company to hire an internal auditor to clean up an out of control system. An out of control system could mean many things but none of them are desirable for any company especially one that is publicly owned. The company needs to maintain accurate financial records and produce correct financials

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

External Auditors Do Not Rely on Internal Auditors as Much as They Could – Why?

4169 words - 17 pages matters that are revealed by the internal audit are properly reported and resolved; Found in the same document under, paragraph 18 (h), is the recommendation to the external auditor to only consider if they need to test the work of the internal auditor.  In order for the external auditor to provide an objective and firm opinion, there should undeniably be an examination of the internal auditors work. This can be achieved by performing checks on

Internal Controls

762 words - 4 pages the risks associated with the failure to adhere to Section 404 of the Sarbanes-Oxley Act. Recommendation for Qualified Candidate. The strategy associated with finding an internal auditor is one of the most significant preliminary exercises performed by management. These preliminary exercises will entail, recognizing who will be in charge of conducting the audits, which employees will be chosen to train the chosen party on current processes


1735 words - 7 pages PENDAHULUAN 1. Latar Belakang Profesi audit sudah dikenal sejak dahulu kala. Berdasarkan dokumen batu yang ditemukan oleh sejarawan, ditemukan fakta bahwa sekitar tahun 3000 S.M. ahli tulis bangsa Mesopotamia menggunakan system internal control yang detail sengan menggunakan tanda centang dan titik–titik. Proses auditing telah berkembang pesat seiring perkembangan jaman. Terdapat dua tipe auditor bisnis/usaha yang kita kenal

Audit Assignmenr

988 words - 4 pages Foods uses two different types of audits for the four new processes. We are recommending that an attestation audit be used for the new inventory proposal. Kudler is responsible for maintaining internal control over the new inventory processes and procedures. The auditor and the responsible party can agree on an examination, a review, and procedure for the audit and the auditor may then contribute the recommendations to management. The new

What Should Auditor Audit

608 words - 3 pages the way they are supposed to be. The auditor also looks at inconsistences to determine if there is a possibility of theft or fraud. There are two different types of auditors, internal and external. Operational auditing is considered to be an internal audit. In today’s society it has become very important to the organization, especially with so much diversity in businesses. An operational audit will allow for the diversified product lines while

Kudler's Fine Foods

1130 words - 5 pages control and assessment of control risk. The auditor is required to design procedures to understand the control mechanisms and assess control risk for the account balance, transaction class, and disclosure components of the financial statement. If the auditor assesses control risk at the maximum level, it will require significant substantive tests to determine the accuracy of the recorded amounts ("NBD Accountants & Consultants”, 2008). The team

Auditing Chapter 2

641 words - 3 pages financial statements for information concerning this information. According to GAAS the auditor should disclose this in the auditor’s report. 2-26 a) Compliance audit b) Financial statement audit c) Audit of internal control d) Audit of internal control e) Compliance audit f) Operational audit g) Financial statement audit h) Forensic audit 2-27 A. I think in this case E&Y did not exercise due

Internal Auditing as an Aid to Organizational Management

1591 words - 7 pages of an enterprise by an appointed auditor in pursuance of that appointment and in compliance with any relevant Law and Regulation. INTERNAL AUDIT MILLICHAMP 1996, defined internal audit as “An independent appraisal of an organization for the view of the internal audit control system as a service to the organization. It objectively examines, evaluates and reports on the adequacy of internal audit control as a contribution to the proper economic

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

Related Essays

Recommendation Brief For An Internal Accountant

674 words - 3 pages Recommendation Brief for an Internal Accountant 1 Recommendation Brief for an Internal Accountant Kelsy Fee ACC/544 April 13, 2015 Professor La Ron Roach Recommendation Brief for an Internal Accountant 2 In this recommendation brief the benefits of hiring an internal accountant will be discussed. Having an internal accountant would help fix an out-of-control system and the justification of taking

Justification For Internal Control Essay

549 words - 3 pages Justification for an Internal Control System ACC/544 The Controller is responsible for analyzing a company's performance in compliance and reporting, operations and assist management in developing its goals and budgets. They are also responsible for analyzing and managing risks companies may encounter. Performing these tasks require the controllers and financial officers to establish internal controls. The internal control system

Justification For An Internal Control System

657 words - 3 pages Justification for an Internal Control System Christine Griffin ACC 544 July 28, 2014 Richard Cornett Justification for an Internal Control System As the controller for my company, I monitor all financial activities, conduct audits as needed, create high-level financial reports, and implement accounting methodologies to make the company run efficiently (PayScale, n.d.). The leadership of the company has asked me why there is a need

Justification For An Internal Control System

936 words - 4 pages Internal Control Systems are very important for the risk management department of a company. This system helps keep the company protected from losing assets or incorrect use of assets. They also assist the company with keeping record and staying on track with objectives needed to be met. A controller’s duty would be to support management and the reporting of accounting and financial information. To start off, insurance and portfolios would