Implementation of Internal Controls
Organizations typically do not have the staff or knowledge to implement an effective internal control system. Yet, these controls are critical to improve: 1) effectiveness and efficiency of operations, 2) reliability of financial reporting, 3) compliance with laws and regulations and 4) fraud prevention. Some examples of a lack of internal controls include:
For most organizations, the COSO Guidance for Small Businesses is the most appropriate internal control framework to use. AscendCFO professionals can assist you in defining and implementing internal controls while ensuring that a balance exists between meeting objectives without overburdening the organization.
Contact us to learn how we can quickly assess and implement internal controls that allow you to protect your organization and succeed.
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