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Internal controls are the measures the company adopts to comply with internal and stockholder requirements (and, in some cases, regulatory requirements), promote operational efficiency and effectiveness, safeguard assets, and provide reasonable assurance of the accuracy and reliability of financial and accounting data to interested parties. Internal controls are an important part – arguably, the most important aspect – of the company’s risk management process. The following financial internal control procedures are designed to assist in developing and implementing a system of internal controls, which is crucial to ensuring and demonstrating compliance. Auditing, both internal and external, is considered the best method of verifying and ensuring the continued effectiveness of the company’s internal control system.


    Procedures

  • External Audit Procedure | AC1040

  • Financial Corrective Action Procedure | AC1060

  • Financial Internal Auditing Procedure | AC1050

  • Risk Assessment Procedure | AC1020

  • Risk Management Procedure | AC1030

  • Sarbanes-Oxley Compliance Procedure | AC1000

  • SSAE 16 Compliance Procedure | AC1010


    Forms

  • Audit Opinion Letter Template | AC1050-4

  • Chart of Accounts Guide Template | AC1020-2

  • Corrective Action Plan Template | AC1040-1

  • Financial Audit Checklist Template | AC1050-3

  • Financial Audit Plan Template | AC1050-2

  • Financial Audit Report Template | AC1050-5

  • Financial Audit Schedule Template | AC1050-1

  • Financial Corrective Action Log Template | AC1060-3

  • Financial Corrective Action Request Template | AC1060-2

  • Financial Nonconformity Report Template | AC1060-1

  • Internal Control Checklist Template | AC1020-3

  • Risk Assessment-Management Worksheet Template | AC1020-1

  • Sarbanes-Oxley Compliance Checklist Template | AC1000-1

  • SSAE 16 Compliance Checklist Template | AC1010-1