ACCT 504 Week 5 Case Study 2 Internal Control LJB Company

Answer –Based on facts given in the case, new internal control requirements that are needed for the company to go public are listed below

a.    Compliance with Sarbanes-Oxley Act Regulations

b.    Compliance with SEC, GAAP and IFRS procedures to record all transactions

c.    Internal audit on company financial and business processes and transactions

d.    Implementation of better security measures for data protection, identity protection and ensuring that company resources are not misused
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