In order to prevent against fraud and protect your assets having practical and effective internal controls is critical. Implementing sound procedures for your general and accounting processes will increase the likelihood that financial information is reliable and company assets are safeguarded.
At Louis Plung & Company, we can help you by conducting an internal control evaluation which is performed by understanding the existing policies and procedures and conducting tests to determine if your controls are functioning as designed. By understanding the business, market conditions, and accounting systems and processes for maintaining the books and records, we can provide specific recommendations for enhancing the business as well as enhancing its accounting systems and processes.
Internal control evaluation services include:
- Processes and procedures evaluation
- Policy documentation
- Institute segregation of duties
- Internal control environment operation tests
- Control record review
- Employee training and guidance
- Operational processes streamline
- Establish management reporting packages and relevant performance measures