The right internal controls over financial reporting are critical to every business. Failure of a preventative or detective control or a poorly designed control can lead to inaccurate financial reporting. We help business owners like you understand the strength of your internal control environment using our risk-based review process that identifies areas of risk and improvement. Our engagement process is summarized below:
- Gain an understanding of the current process and key business risks through interviews and review of documentation
- Document, as needed, the existing system of internal controls
- Assess the design and operational effectiveness/efficiency of key controls within the selected accounting-related business cycles
We also help our clients design accounting policy manuals, develop job descriptions and responsibilities, and create controls to help ensure segregation of duties.