Internal Controls

Running a small business rarely gives you the luxury of being able to afford mistakes, much less intentional wrongdoing. You are driven to maximize your profits and often carry just enough people to get the job done but doing so can leave your business vulnerable to inefficient procedures and theft.  One of the best ways to prevent this problem is to implement effective internal controls.

Internal controls are procedures aimed at measuing the efficiency and effectiveness of your operations.  They can help you safeguard your resources and ensure you reduce your risk to theft.

As part of our services, we assess your internal control systems to make recommendations that help your company become stronger and more profitable by correcting any inefficient or ineffective operating procedures we find.

What we do for you...

  • 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 delegated 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.

Contact us today for a free consultation and learn how our Internal Control services can help your business keep moving forward.


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© Tilton & Co. CPAs, P.C. 2021, 4015 South McClintock Drive, Suite 105, Tempe, AZ 85282
T: (480) 897-7708 F: (480) 345-6040 E: info@tiltonco.com



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