Recommendation Brief for an Internal Accountant

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  • Topic: Deposit insurance, Federal Deposit Insurance Corporation, Internal control
  • Pages : 2 (713 words )
  • Download(s) : 323
  • Published : April 22, 2013
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Recommendation Brief for an Internal Accountant
Recommendation Brief for an Internal Accountant
A client has an out-of-control system that is in need of change to get it back into control. Internal controls are an important part of a company. The role of internal controls is to keep mistakes from occurring as much as possible. It also aids in preventing individuals from being dishonest. The system the client is using is out-of-control, and it is highly recommended that the company hire an internal accountant. The internal can provide information to managers to limit any problems and audit the system internally. Implementing internal audits will help build credibility within the company and keep violations from occurring that would violate laws and regulations. An internal auditor would work with management and owners to analyze important areas of the company’s performance. These areas that would be analyzed would include assets, accuracy of financial information, and ensuring that government and industry standards and regulations are being followed. Another point that the internal auditor would confirm is that the policies and procedures are aligned with the company’s goals. An internal auditor would add security and be an asset to the company. The first step an internal auditor would initiate would develop a plan to evaluate the current control system that is in place. Any deficiencies found would be documented and evaluated for improvement. The deficiencies would need to be corrected if possible. At the completion of the audit from the internal auditor a written recommendation explaining the control system and what needs to be done to correct the deficiencies would be given to the management of the company. There are positives in hiring an internal accountant for a company that has a system out-of-control. The first positive is the ability to minimize or extinguish any deficiencies before there are long- term...
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