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Internal Controls

You may need an outside professional to evaluate your company's operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft.

Our experienced professionals can assess your internal control systems to determine the efficiency and effectiveness of your operating procedures. Our team will then make recommendations that help your business become stronger and more profitable by correcting any inefficient or ineffective operating procedures we find.

Here is what Cole, Newton & Duran can 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
  • 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 reviewed and reconciled by someone other than the preparer 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 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
  • Review operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned