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the Cable Co video report - Essay Example
Author : matt35
Finance & Accounting
Pages 3 (753 words)
Name Tutor Institution Course Date The Cable Co Video Report A management letter may be defined as an analysis of different findings which is prepared by certified public accountants. It is usually prepared as part as of the report of an auditor to the board of directors of a given company…
Other forms of reports having different contexts may include summary address to its readers which is called a management latter. The most common use of a management letter is as a formal report of the auditors. It is written along with the other reports of the auditors. Segregation of duties is a policy control system in which no person is given responsibility in more than one given related function. For instance, an employee who is responsible for making purchases in a given organization should not be the same employee to make the payments for those purchases (Elliott 22). It is also a procedure or method which is established by an organization as a check on internal activities. This is done through the separation of accounting personnel from having custody on assets, custody of associated assets from the authorization of transactions and record keeping responsibilities from the operational responsibilities. The purpose of the segregation of duties is to help in preventing fraud in different ways such as misappropriation of assets and any internal financial misstatement in an organization. Committee of Sponsoring Organization is an initiative that is comprised of 5 private sectors. ...