Internal Controls

Mitigating Risk and Business Fraud

Mitigating Risk and Protecting Your Business from Fraud

Every business faces risks, but with an effective system of internal controls, those risks can be significantly mitigated. As a business owner, your primary focus is on running your business, managing employees, and turning a profit, making it challenging to handle this task in-house.

Effective Internal Control Systems Tailored to Your Needs

Our team of trained professionals has helped many business owners create robust internal control systems to prevent employee fraud, ensure regulatory compliance, and establish efficient company policies and procedures. We work with you to identify and document weaknesses in your existing controls, test their effectiveness, and provide a detailed report with recommendations to strengthen your internal control systems.

Our Services Include:

• Recommending segregation of duties to ensure no single person controls all aspects of financial transactions
• Authorizing transactions by delegating approval authority only when consistent with policy and funds are available
• Ensuring records are routinely reviewed and reconciled by someone other than the preparer or transactor
• Accounting for equipment, inventories, cash, and other property through physical security, periodic counts, and comparison with control records
• Providing employees with appropriate training and guidance
• Establishing proper channels for reporting suspected improprieties
• Documenting policies and procedures and making them accessible to employees
• Reviewing operations to ensure they align with established objectives and goals

Prevent Employee Fraud from Undermining Your Business

If you suspect employee fraud or are concerned about business risks, it may be time to review and update your internal control systems.

Contact us today using the form below to learn how we can help your business mitigate risk