Physically secure, periodically count, and compared with item descriptions shown on control records.Ensure that equipment, inventories, cash, and other property are accounted for.Ensure records are routinely reviewed and reconciled by someone other than the preparer or transactor.Make sure transactions are authorized through delegating approval authority to an individual only when the transactions are consistent with policy and funds are available.Recommend segregation of duties for implementation by dividing responsibilities so that no single person has control over all aspects of financial transactions.Finally, we offer recommendations in a report of findings that can be used to strengthen your internal control systems, and that reflect the needs of a particular business. We work with your business to identify and document weaknesses with existing internal controls, then perform procedures to test whether the current internal controls you have in place are effective. Effective Internal Control Systems That Meet Your Business Needs.Īs trained professionals, we have assisted many business owners in creating effective internal control systems to prevent employee fraud, ensure compliance with regulations, and make sure company policies and procedures are in place so that your business operations are effective and efficient. This is not a task that is easily accomplished in-house, however, because as a business owner, your focus is running your business, managing employees, and turning a profit. Mitigating Risk and Protecting Your Business From FraudĮvery business faces risk, but with an effective system of internal control measures in place, that risk is mitigated.
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