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Internal Controls

Mitigating Risk and Protecting Your Business From Fraud

Every business faces risk, but with an effective system of internal control measures in place, that risk is mitigated. 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. 

Effective Internal Control Systems That Meet Your Business Needs.

As a trained professional, I 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. I 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. Finally, I 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.  

What I do for you:

  • Implement segregation of duties by dividing responsibilities so that no single person has control over all aspects of financial transactions.
  • Make sure transactions are authorized through delegating approval authority to an individual only when the transactions are consistent with policy and funds are available.
  • Ensure records are routinely reviewed and reconciled by someone other than the preparer or transactor.
  • Ensure that equipment, inventories, cash, and other property are accounted for. 
  • Physically secure, periodically count, and compared with item descriptions shown on control records.
  • Provide employees with appropriate training and guidance to carry out their job duties.
  • Set up proper channels for reporting suspected improprieties.
  • Document policies and procedures and make them accessible to employees.
  • Review operations to determine whether the results are consistent with established objectives and goals and carried out as planned.

Don’t Let Employee Fraud Be the Downfall of Your Business.

If you suspect employee fraud or are concerned about your business risk, then maybe it’s time to review and update your internal control systems.

Contact me today using the form below and find out how I can help your business mitigate risk.

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I take care of your books for you, so you can get back to the job of running your business and generating profits.
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I offer payroll solutions that meet your business's needs and enable you to spend time doing what you do best--running your company.
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I offer a variety of services to help make sure that you are taking full advantage of Quickbooks' many features.
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I'm here to help you resolve your tax problems and put an end to the misery that the IRS can put you through.
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