Internal Control Design and Evaluation

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.  In fact, a lack of good internal controls is typically the primary factor contributing to the existence of fraud.

What we do for you...

• Conduct a comprehensive evaluation of your organization's fraud risk, including the specific functions in which fraud is most likely to occur and how such fraud may be conducted. We can then recommend policies and procedures targeted at reducing the risk of fraud and thereby protect your organization's resources. 
  
  
• Implement 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.
  
  
• Make sure transactions are authorized by a person with approval authority 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, to determine that transactions have been properly processed. 
  
  
• Make certain that equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions shown on control records.
  
  
• Provide 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.
  
  
• 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.