Recommendation Brief for an Internal Accountant La Tanya Pointer ACC/544 July 19, 2010 Jacob Mathews Recommendation Brief for an Internal Accountant Internal auditing helps companies to look at ways of improving and achieving short-term and long-term objectives. Internal auditors are hired to perform internal audits that look at a company’s operations, investigating fraud, financial reporting, safeguarding assets, and compliance of the laws and regulations set for companies. The internal auditors are employed to improve a company’s internal controls.
Effective working internal controls detect and prevent fraud that is tested by internal auditors. Benefits of Internal Auditor Understanding the benefits of an internal auditor will help in the decision of hiring an internal accountant. Internal auditors verify the effectiveness of their organization’s internal controls and check for mismanagement, waste, or fraud. They examine and evaluate their firms’ financial and information systems, management procedures, and internal controls to ensure that records are accurate and controls are adequate.
They also review company operations, evaluating their efficiency, effectiveness, and compliance with corporate policies and government regulations (Bureau of Labor Statistics). As an internal auditor he or she will be able to look for any mistakes and address them in the reports. Finding a professional to fill the role of an internal auditor benefits the structure of a growing business, because it prevents the creation of faulty processes and limits the liability the company may be exposed to during its growing phase. Continued internal audits safeguard the company’s assets by ensuring compliance when laws change.
Even a business closing down benefits from an internal audit. It serves to protect its finances and ensures that employees receive all their compensation, while customers’ orders are also filled (Cochran, 1999-2010). Recommendation With an out of control system it is recommended that John Waverly be hired as the internal control accountant for the company. John Waverly has a Bachelor of Science degree in Business and a Master’s of Science in Accountancy from University of Phoenix. John has 10 years of experience as an internal accountant.
He also received certification as a certified internal auditor (CIA) that he received from the Institute of Internal Auditors He has examined financial records, information systems, and management procedures for internal control for companies. John has extensive experience in computer knowledge, applications, and the laws and regulations. Mr. Waverly can give recommendations that will ensure the reliability of the internal control system. Internal Accountants Background The background of the internal auditor benefits companies in need of an internal accountant.
The benefits of John Waverly are his extensive computer knowledge and his certification as a certified internal auditor (CIA). The certified internal auditor (CIA) credential has become a symbol of professionalism and credibility. Mr. Waverly recognized that obtaining the CIA would broaden advancement opportunities, increase salary potential, and improve credibility (Brody & Frank, 2000). Mr. Waverly will help managers base their decisions on data and will also ensure that records are accurate and controls are adequate to protect against fraud and waste. Conclusion
Choosing the right professional internal accountant to do the job of ensuring accurate controls is very important to companies. The benefits of possessing extensive knowledge of computers will play a key role as an internal auditor and the efficiency of internal controls. With the background of John Waverly, companies would greatly benefit in keeping accurate records, information systems, detecting fraud, and staying in compliance of corporate policy and government regulations. Maintaining an accurate internal control system will save the company’s assets and detect possible fraud. References Brody, R. , & Frank, K. (2000).
The Future of the Certified Internal Auditor and the Internal Auditing Profession. Journal of Education for Business, 75(4), 215. Retrieved from MasterFILE Premier database: http://search. ebschohost. com. ezproxy. apollolibrary. com/login. aspx? direct=true&db=f5h&AN=3149610&site=ehost-live Bureau of Labor Statistics. U. S. Department of Labor. Occupational Outlook Handbook, 2010-11 Edition. Accountants and Auditors. Retrieved July 17, 2010 from: http://www. bls. gov/oco/ocos001. htm Cochran, Sylvia. (1999-2010). Role of an Internal Auditor. Retrieved July 17, 2010 from: http://www. ehow. com/about_4812828_role-internal-auditor. html
