In recent years, the assessment of internal control has become a much higher priority of many companies. New auditing standards have required a more thorough review and reporting on internal controls and highly publicized fraud cases have strengthened the case for better internal controls.
Our experienced staff is ready to help you in documenting your internal controls, assessing risks where there may be weaknesses in your controls, and finally suggesting possible solutions to improve your workflow to help strengthen your controls. By being proactive you may help save your company money by stopping fraud before it occurs.
Our internal control services include:
- Documenting your current processes including preparation of flowcharts to visually see the flow of information.
- Development of policy manuals to formalize responsibilities.
- Identify significant deficiencies and material weaknesses in internal control.
- Recommendations on changes to internal control including follow-up flowcharts and manuals.
- Section 404 of the Sarbanes Oxley act testing for public companies.
Our processes start with getting to know your organization to help us identify key areas within your companys and the important controls that are relevant to those areas. We will review for segregation of duties for those who have recordkeeping, review, and control over assets and whether these duties may overlap.
Our review will follow the framework as provided by the Committee of Sponsoring Organization (COSO) and other guidance as provided by regulatory authorities.