Memo for accounting Assignment Example | Topics and Well Written Essays - 500 words

Memo for explanation - Assignment ExampleThe internal control process assists the Aero management to guarantee the reliability of financial reporting and preparation. It as well makes sure that the prepared financial statements exhibit a true(a) and fair view of the state of affairs of the company in accordance with generally accepted accounting principles. With regard to the efficiency of internal control system, based on the Committee of Sponsoring Organization of the Treadway Commission (COSO)s criteria, the company claims that its internal control over financial reporting as of 29th January 2011 was utile (annual report). An effective internal control system is considered as the potential strength of any organization as this ingest adds value to stakeholder interests.The legate statement 2011 clearly shows that the Aero has effectively defined the roles of its CEO and chairman. As per the disclosures contained in the proxy statement, the CEO is responsible for dealing with general management, oversight, supervision, and control of the business and affairs of the company (proxy statement). He has also the responsibility to find that the Boards all orders and resolutions are put into effect. In contrast, the Chairman is charge for the supervision of the Board meetings and shareholders. In addition, it is the duty of the Chairman to provide appropriate advices to the CEO and other executive director officers on various business matters (proxy statement). The separate CEO and chairman structure of the company is very effective, and consequently it contributes to the operational efficiency of the Aeropostale, Inc. The interdependent functions of the CEO and the Chairman would aid shareholders to ensure better use of their money.From a detailed study of the report, it is evident that the Aeropostale, Inc has a prosperous future. Aeros international expansion strategy is the almost positive aspect. The company has entered numerous overseas markets over the last decade and it