Get a Free Originality Report


Get a Free Originality Report

Internal control Memo

Our papers are 100% unique and written following academic standards and provided requirements. Get perfect grades by consistently using our writing services. Place your order and get a quality paper today. Rely on us and be on schedule! With our help, you'll never have to worry about deadlines again. Take advantage of our current 20% discount by using the coupon code GET20

Order a Similar Paper Order a Different Paper

Internal control memo

As a new employee at Canyon rental, an outdoor outfitters and
supply shop, your boss has asked you to look at the internal control system
within the store. He is seeking a loan for expansion and must have his books
audited. The auditor asked about his control procedures and documentation. He
has no idea what the auditor is talking about. Your boss has asked you to do
what you need to understand the system and has asked for a memo with your
observations and recommendations by the end of the week. Through interviews and
observation, you notice the following:

  1. Purchase
    orders, and sales invoices are not pre-numbered due to the higher cost of
    printing the forms.
  2. To
    save time the sales clerk enters the sales at the end of the day into the
    accounting records, prepares the deposit and delivers it to the bank.
  3. The
    sales clerk a trusted and long-term employee grants sales returns at her
  4. The
    purchasing manager both orders merchandise and approves the payment for
    the order.
  5. Betty
    Gamble, the bookkeeper has not taken a vacation in three years.
  6. Checks
    are brought to the owner twice a week for signing. He is overwhelmed by
    all of the paperwork and has asked for the checks only on which he stamps
    his signature.

In your memo, give a summary of the elements of an effective
internal control system. Comment on each of your observations and if there is a
weakness provide a solution. Your memo should be 2-3 pages.

Criteria of
writing paper

The demonstrates an
understanding of internal control systems and a summary of the elements of an
effective   internal control system is outlined.

Each observation is discussed
in detail with weaknesses highlighted and recommendations for improvement

Project as a whole accurately
demonstrates   application of critical thinking skills.

The memo is well organized, in
proper form, with a clearly evident purpose/thesis.

We offer the best essay writing services to students who value great quality at a fair price. Let us exceed your expectations if you need help with this or a different assignment. Get your paper completed by a writing expert today. Nice to meet you! Want 15% OFF your first order? Use Promo Code: FIRST15. Place your order in a few easy steps. It will take you less than 5 minutes. Click one of the buttons below.

Order a Similar Paper Order a Different Paper

Looking for this or a Similar Assignment? Click below to Place your Order