Internal Controls
At ASL, we have developed our own streamlined system to help businesses implement internal controls in the most cost-effective way. Here’s what we do:
- Help you document your accounting and finance processes
- Identify key controls in place
- Recommend best-practice controls that are lacking
- Perform internal controls compliance reviews
- Test internal controls during audits
- Perform internal audit outsourcing services
Questions to Ask Yourself
Identify key accounting and operational functions and ensure that a system of checks and balances exists to identify errors or willful omissions.
Start with key accounting functions and follow a transaction from inception to conclusion to document the flow of accounting information through the Company.
That depends on the frequency of the control and whether it is automated or manual. The larger the volume and more manual the process, the more often you would need to test the controls.
