Mitigating Risk and Safeguarding Your Business Against Fraud

Risk in business in , but with a robust system of internal controls, these risks can be significantly mitigated. As a business owner, your primary focus is running your business, managing employees, and generating profit, making it challenging to establish these controls in-house.

Tailored Internal Control Systems for Your Business

Our team of trained professionals has extensive experience assisting business owners in creating effective internal control systems. These systems are designed to prevent employee fraud, ensure regulatory compliance, and enhance the efficiency of your business operations. We work with you to identify and document weaknesses in your existing controls, test the effectiveness of your current measures, and provide recommendations to strengthen your internal control systems.

Our Services Include:

  • Segregation of Duties: We recommend dividing responsibilities to ensure no single person has control over all aspects of financial transactions.
  • Authorization Procedures: We ensure that transactions are authorized appropriately, delegating approval authority consistent with policies and available funds.
  • Record Reviews: We ensure records are routinely reviewed and reconciled by someone other than the preparer or transactor.
  • Asset Accountability: We establish accountability for equipment, inventories, cash, and other property through physical security, periodic counts, and comparisons with control records.
  • Employee Training: We provide training and guidance to employees to help them carry out their job duties effectively.
  • Reporting Channels: We set up proper channels for reporting suspected improprieties.
  • Documentation: We document policies and procedures, making them accessible to all employees.
  • Operational Review: We review operations to ensure consistency with established objectives and goals, verifying they are carried out as planned.

Protect Your Business – Prevent Employee Fraud

Don’t let employee fraud jeopardize your business. If you suspect fraud or are concerned about your business risk, 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 you mitigate risk and safeguard your business.