Acc/ 544 Internal Accountant Brief

midland restrainer Brief Candace Schneider ACC/544 April 15, 2013 Christine Errico inside comptroller Brief When a origin is experiencing an out-of- nurse be clay the business might numerate hiring an essential restrainer to inspection and repair let off the difficulty. Before a ph angiotensin-converting enzymer decides to enlist this type of restrainer the federation should examine at the array of function this variety of comptroller house provide to the union. service of Internal Accountants An inner(a) comptroller screw provide array of services to a business. unitary service an intrinsic restrainer put up provide to a caller is actualizeing an inside arsevass on the business.Some of the analyses an inside restrainer substructure perform be compliance studys, in operation(p) audits, or fiscal dictation audits. contour canvas If a company hires an infixed restrainer for a compliance audit the restrainer determines if the companys in ternal controls and news report is in compliance with company policies as sanitary as laws and regulation. If the comptroller finds that internal controls or the accounting information is non in compliance the accountant essential determine the cause of the non-compliance as hygienic as recommend ways the company can prevent future deviations (Cytraus, 2013, para. ). operational Audit If a company hires an internal accountant for an operational audit the accountant measures the effectiveness and results of certain business procedures in spite of appearance the business (Farlex, 2013, para. 1). This type of audit is opposed the compliance audit because this type of audit challenges assumptions and goals of procedures by moving toward improving cogency within the business (Farlex, 2013, para. 1). Financial description Audit If a company hires an internal accountant for a pecuniary statement audit the ccountant determines if the preparation and reporting of financial statem ents by the company follows General legitimate Accounting 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 flummoxs, checking for mismanagement of funds, and examining compliance of the laws and regulations set for the company. The employment of internal auditors cares to improve a companys internal controls.Effective works internal controls detect and prevent fraud, which internal auditors test to see if the controls are surgery appropriately. If the company still decides to hire an internal accountant, the company allow benefit from this stopping point 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 take on saving money everyplace time, defend assets, improving performance, and ensuring accuracy of financial statements. obstetrical delivery Money An internal accountant can help a business unbosom money over time.This is because the service an internal accountant provides saves the business from potential profound 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 lag billions of dollars because of employee theft. An internal accountant can help alleviate this problem by pose a schema of internal controls into the business. The accountant can also monitor the scheme to ensure no opportunities exist in the system that might tempt an employee to skid 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 operate appropriately. Improving Performance An internal accountant can improve a companys performance by inc r calm 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 efficaciously at competitive rates as hale as if the company is merging its short and long-term financial goals.Ensuring true statement 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 ease in dealing the companys books are accurate as well as the information in the financial statements are accurate. These audits can lead lenders to cod ones company as more reputable, which can lead to reduce interest rates for the company when acceptation (Good Accountants, 2012, para. 5). After a company determines the exigency for an internal accountant the company moldiness find the right interna l accountant for the job.Recommendation One recommends hiring an individual who is a CPA with several years of experience in this field of battle of accounting. This is because the individual will assume 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 advised decisions for the company to exceed and be profitable. One individual in mind to realise 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 internationalistic 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 company on how to upkeep the business functioning effectively and expeditiously 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 economic value to Organizations Digital Seminar. Mission Viejo, CA Pleier Corporation.