Acc/ 544 Internal Accountant Brief

ingrained restrainer Brief Candace Schneider ACC/544 April 15, 2013 Christine Errico infixed restrainer Brief When a lineage is experiencing an out-of- escort story organisation the business might make hiring an intimate control to serve slake the paradox. Before a play along decides to deal this type of control the connection should purport at the array of service this pleasing of controller mountainnister provide to the troupe. function of Internal Accountants An informal control brush off provide array of services to a business. whizz service an essential restrainer freighter provide to a lodge is achieveing an versed scrutinize on the business.Some of the scrutinises an cozy control nooky perform argon compliance canvass, functional audits, or financial description audits. obligingness canvass If a smart set hires an inseparable controller for a compliance audit the controller determines if the companys internal controls and report i s in compliance with company policies as salutary as laws and regulation. If the control finds that internal controls or the accounting information is not in compliance the accountant must(prenominal) determine the cause of the non-compliance as well(p)(p) as recommend ways the company can prevent future deviations (Cytraus, 2013, para. ). practicable Audit If a company hires an internal accountant for an operational audit the accountant measures the effectiveness and results of certain business procedures deep down the business (Farlex, 2013, para. 1). This type of audit is remote the compliance audit because this type of audit challenges assumptions and goals of procedures by moving toward improving force within the business (Farlex, 2013, para. 1). Financial account Audit If a company hires an internal accountant for a financial statement audit the ccountant determines if the preparation and reporting of financial statements by the company follows General recognized Ac counting Principles. separate Services Other services an internal accountant can provide to a business are examining a companys operations, analyse fraud, examining financial reporting, safeguarding as effects, checking for mismanagement of funds, and examining compliance of the laws and regulations set for the company. The employment of internal auditors supporters to improve a companys internal controls.Effective operative internal controls detect and prevent fraud, which internal auditors test to see if the controls are surgical operation appropriately. If the company still decides to hire an internal accountant, the company depart benefit from this finis in many ways. Benefits of Hiring an Internal Accountant Many benefits exist for a company when the company hires an internal accountant. Some of these benefits involve saving m hotshoty oer time, protect assets, improving performance, and ensuring accuracy of financial statements. redeeming(a) Money An internal accounta nt can help a business allay money over time.This is because the service an internal accountant provides saves the business from potential sub judice or financial issues. This leads a business to save more money over time than it costs to employ the accountant (Good Accountants, 2012, para. 2). Protection of Assets Every year businesses fall asleep billions of dollars because of employee theft. An internal accountant can help alleviate this problem by installing a form of internal controls into the business. The accountant can also monitor the governing body to ensure no opportunities exist in the system that might tempt an employee to purloin from the company (Good Accountants, 2012, para. ). Along with installing and supervise the system an internal accountant can perform random checks on the system to ensure that the internal controls are surgical procedure appropriately. Improving Performance An internal accountant can improve a companys performance by change magnitude the companys value when the accountant critically analyzes the companys efficiency. An accountant does this by performing an operational audit of the company. This type of audit can help determine whether the company markets its products and services in effect at competitive rates as well as if the company is coming upon its short and long-term financial goals.Ensuring trueness of Financial Statements Auditing financial statements by a Certified Public Accountant (certified public accountant) can offer value to a company. These audits puts a companys investors at liberalisation in have it offing the companys books are accurate as well as the information in the financial statements are accurate. These audits can lead lenders to visit ones company as more reputable, which can lead to get off interest rates for the company when acceptation (Good Accountants, 2012, para. 5). After a company determines the remove for an internal accountant the company must find the right internal accountant for the job.Recommendation One recommends hiring an individual who is a CPA with several years of experience in this plain of accounting. This is because the individual will hire to have the experience to correct the companys out-of-control system as well as provide additional services the company may need. These services will help the company make sure decisions for the company to exceed and be profitable. One individual in mind to elaborate the problem of ones out-of-control system is John Tongren. This is because Tongren has experience in this field of accounting and auditing.Tongren specializes in management control process and the impact of technology on their effectiveness (Tongren, n. d. , para. 1). He also has internationalist recognition for his expertise in the audit and control aspects of information systems (Tongren, n. d. , para. 1). By one hiring this individual one will know that this individual will solve the problem right as well as inform the compan y on how to fall out the business functioning effectively and efficiently for the company to exceed and be profitable. References Cytraus, A. (2013). Compliance Auditing.Retrieved from http//www. referencefor business. com/encyclopedia/Clo-Con/Compliance-Auditing. html Farlex. (2013). Operational Audit. Retrieved from http//financial-dictionary. thefreedictionary. com/operational+audit Good Accountants. (2012). Benefits of Hiring an Accountant for Internal Audits. Retrieved from http//www. goodaccountants. com/blog/2012/11/benefits-of-hiring-an accountant-for-internal-audits/ Tongren, J. D. (n. d. ). Operational Auditing Adding appraise to Organizations Digital Seminar. Mission Viejo, CA Pleier Corporation.