Case Study Internal Control

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dyKeller Graduate School of Management of DeVry University The LJB Internal Control: Review and Recommendations by Dmitry Simakovich Professor Marsh, Malinda Accounting and Finance: Managerial Use and Analysis October 7, 2012 Table of Contents Introduction............................................................................................................3 I. New internal control requirements.........................................................................4 II. Positive steps have been made by a company to goal........................................ 6 III. Recommendation for improving of the internal control........................................ 6 Summary and Conclusion......................................................................................9 Works cited..........................................................................................................10 October 7th, 2012 To: President of LJB Company From: Dmitry Simakovich, SD Consulting LLC Topic: The LJB Internal Control: Review and Recommendations Mr. President. We would like to congratulate you for your decision to take LJB public. Our company has been involved in providing IPO consulting services to companies just like you for over 20 years. It is our understanding that you are interested to learn about all applicable regulatory requirements as pertained to the area of internal control. In 2002 the U.S. has enacted the Sarbanes-Oxley Act which mandates various provisions aimed at strengthening corporate accountability and governance, affecting the fiduciary responsibility of both officers and directors of public companies. Failures to comply with these provisions not only puts a company in violation with Securities and Exchange Commission (SEC), but also in certain cases holds companies' senior management criminally

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