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 are experienced at assessing internal control systems to determine the efficiency and effectiveness of operating procedures. We can make recommendations that help your company can implement to improve its system of internal controls.
Some things we can help you consider...
- Implementation of segregation of duties so that duties are divided, or segregated, among different people to reduce risk of error or inappropriate actions. No one person has control over all aspects of any financial transaction.
- Consideration of the proper by delegation of approval authority so that transactions are consistent with policy and funds are available.
- Determination of the proper review and reconciliations records, by someone other than the preparer or transactor, to determine that transactions have been properly processed.
- Provisions for equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions shown on control records.
- Document policies and procedures and making 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.
- Review operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned.
