The Evaluation of Ljb Company Internal Controls

The Evaluation of LJB Company Internal Controls
Anthony Shannon
Professor: Linval Frazer
February 9, 2014

Table of Contents
Page Three: Introduction
Page Three to Page Five: Overview of LJB Company Internal Controls
Page Five to Page Six: Summary and Conclusion of LJB Company Internal Controls
Page Seven: References

As per your direct request to have Shannon & Shakes accounting firm to directly audit and evaluate the internal controls of LJB Company to help affiliate your company’s transaction form a private entity to a public entity, my firm is please to assist you in this business matter. The first step to ensure a proper transition into the world of public trading of company stock on the public stock market is to ensure that your company administration is properly educated on the Sarbanes-Oxley Act. The Sarbanes-Oxley Act is a federally back law that requires all publicly traded business’s to have effective and reliable internal controls as well as proper financial reporting procedures. Along with being properly educated on the Sarbanes-Oxley Act your company’s upper management are legally responsible to ensure the above measures are implemented in day to day business operations.   Along with internal quarterly, semiannual and yearly auditing of the company financial operations the company must employ outside audit firm to properly ensure the company financial data is accurate on the company internal control report, which this data will be transfer to the annual exchange act report that is required by federal law. The above measure will help ensure your company complies with federal law and this will ensure your company limits each chance of any type of federal action.
Overview of LJB Company Internal Controls:
To ensure your transition from a private company to an openly publicly trading company goes smoothly our firm recommends the following framework, which is required by (COSO) Committee of Sponsoring Organizations...