Internal Controls

At times you may need a trained outside professional to evaluate your company's operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft.

We assess your internal control systems to determine the efficiency and effectiveness of your operating procedures. Then we make recommendations that help your company become stronger and more profitable by correcting any inefficient or ineffective operating procedures we find.

What a strong internal control system should do in your practice:

  • Segregates employee duties among different people to reduce risk of error or inappropriate actions. No one person should have control over all aspects of any financial transaction.
  • Assures transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available.
  • Ensures records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed.
  • Makes certain that equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions shown on control records.
  • Provides employees with appropriate training and guidance to ensure they have the knowledge necessary to carry out their job duties, are provided with an appropriate level of direction and supervision, and are aware of the proper channels for reporting suspected improprieties.
  • Documents policies and procedures and makes them accessible to employees. The documented policies and procedures provide day-to-day guidance to your staff and continuation of duties in the event of prolonged employee absences or turnover.
  • Reviews operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned.

If you'd like more information about our internal control services please complete this form to setup a complementary consultation.

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