Why is it important to have strong internal control within an organization?
A control environment is made up of a compilation of an entity’s organizational structures, policies, standards, and processes that maintain control across the organization. Having effective control environments with adequate internal control is essential for businesses to reduce the risk of asset loss and ensure reasonable assurance for stakeholders and businesses. Moreover, implementing a strong internal control, businesses establish solid protocols and procedures for their employees and partners. It allows businesses to prevent fraud and theft by separation of duties and organization of financial and management information.
Here are some best practices that should mitigate issues from happening in your business.
Segregation of Duties
Accounting Standards and Policies
We strongly recommend to educate and train your employees for prevention of fraud as well as errors and mistakes.
The team at EJK Accounting & Tax Service wishes you peace, joy and prosperity throughout the coming year. Thank you for you continued support and partnership. We look forward to working with you in the years to come.
Reminder of Holiday Office Hours
As a reminder for all of our clients and teams, EJK Accounting & Tax Service will be closed from Thursday, December 24 to Saturday, January 3 for the holidays. We will open and back regular hours from 9 am to 5 pm on Monday,January 4. If you need to contact our team on the holidays, please reach out us by emailing [email protected] We appreciate your support and wish you the happiest of holiday!
International Examiner is the oldest and largest nonprofit, pan- Asian Pacific American publication in the Northwest. IE just celebrate their annual Community Voice Awards (CVA Benefit Dinner) this year online on Oct 29, Nov 5, and Nov 12. EJK is one of the sponsors to celebrate IE’s work.
For over 46 years, IE has been working on creating multi-media information, educational, arts, and cultures platform.
For more information, please check out IE’s website to learn more and get involved.
EJK Accounting & Tax Services is committed to caring for the health and well-being of our clients and teams. Due to the new restrictions to navigate COVID-19, our office will remain open with the same office hours and limited capacity to come in.
Limits for Clients
To support our clients and their businesses through this difficult situation, communication is key. If you have any questions and need any helps, please make an appointment and let us know by emailing [email protected] or calling 2065470497. Our team will read and respond to every message we get. We continually look for ways for all of us to navigate this situation with empathy and passion.
Due to limited capacity in the office, remote working is a temporary agreement for teams to work from a non-office location for more than three days. We will maintain and improve interoffice communication between clients. Feel free to contact us!
Rebuilding Together Seattle (RTS) commits in support of the communities to improve and construct for low-income homeowners. RTS provides a great help by improvement and repair of home and creation of the quality spaces for someone to feel safe. They care about the lasting impact on locals and people, and value empowering the community.
Currently, RTS has resumed limited program activities due to COVID-19. However, staff and members are working remotely and continuing to stimulate their best in people.
Join a team, Donate and let’s achieve Rebuilding Together Seattle’s mission to develop our communities stronger!
Rebuilding Together Seattle (RTS) will celebrate their work with micro brews and local wines at the MOHAI on October 6th. EJK will be there to celebrate RTS’ work, ensuring housing stability for low-income homeowners and revitalizing Seattle neighborhoods, one home at a time.
We look forward to VIP cocktails, photo booth charades, and live entertainment. Also can’t wait to taste the latest of Washington’s very own wineries and breweries.
You can buy your tickets here. And check out RTS’ website to learn more and get involved.
Latino Community Fund (LCF) will celebrate 10 years of empowering Washington’s Latino community, on Saturday, September 9, 2017. Join us at the Four Seasons for a night of community and celebration. LCF works to develop healthy and educated Latino families, who contribute to vibrant local communities and economies in Washington State.
We’ll be there to support LCF, as well as hear the latest from Dr. Habell-Pallán, sway to Paula Madrigal, and snap selfies with David Espinosa-Hall of King 5 News.
The Seattle Good Business Network (SGBN) will host their first ever Game of Chefs fundraiser, where local celebrity chefs will face off to create a winning dish. All dishes will include Seattle Made products, pantry items crafted in Seattle by local artisans. Guest chefs will include Alvin Go of Ethan Stowell restaurant Mkt, Will Gordon from Huxley Wallace Collective restaurant Westward, and Carolyn Ferguson from Belle Epicurean. Guests will have an opportunity to meet guest chefs, and will enjoy cuisine from Madres Kitchen, cocktails from OOLA, locally brewed beer, and wine.
Congrats to our clients, Good Bar and Seattle Good Business Network (SGBN), who will open up shop in newly renovated space at Sea-Tac Airport. The Port of Seattle announced winners selected from the competitive bid process last month. The winners reflect global tastes and popular favorites, and include both current local businesses as well as new concepts designed specifically for the airport.
Good Bar will offer items similar to the straightforward and delicious food sold at their Pioneer Square location. SGBN will open a retail front called Seattle Made, featuring high quality products designed and manufactured in Seattle by more than 350 member makers.
To find out more about what’s new at Sea-Tac Airport, see the official news release. And next time you fly, keep your eye out for more local favorites!