37 Kessel Court Suite 205,
Madison, WI 53711

adminMD@grobecpa.com

Internal Control

internal controls

There are times when your operations my need an objective, trained professional to review your company’s operations to ascertain if the appropriate controls are maintained to ensure proper management of resources and to protect your organization from employee theft.

We examine your internal control systems to gauge the effectiveness and efficiency of your operating methods. We then offer helpful advice to strengthen your company’s profits by identifying any unproductive or uneconomical operating procedures we uncover.

Internal Control Services we offer:

  • Divide duties so that responsibilities are segregated or set apart, among different individuals This segregation decreases potential for error or unacceptable actions. Therefore, no one team member has control over all elements of any financial operation.
  • Make sure transactions are approved by a person delegated with authoritative consent when the transactions comply with policy and funds are accessible.
  • Certify that records are routinely evaluated and balanced, by an individual other than the person preparing or processing the transactions. Ensure that transactions have been properly completed.
  • Safeguard equipment, inventories, cash and other property to ensure they are secured physically, accounted for periodically, and associated with item descriptions displayed on control records.
  • Offer appropriate training to employees and direction to guarantee they have the knowledge required to perform their job duties. Be certain they are offered an appropriate amount of supervisions and, and are informed of proper steps for reporting suspected mishaps or misconduct.
  • Record policies and procedures in writing that are available to your staff. The documentation offers daily guidance to your employees and continuity of task completion in the event of unexpected or extended employee absences or turnover.
  • Review procedures to determine whether results cohere to identified objectives and goals and whether the methodology is implemented as planned.