Internal Controls

There is not one ideal number of policies and procedures your company is supposed to have, so how do you go about determining needed procedures?

The purpose of your Accounting Policy Manual is to document the financial principles and policies governing your companyƒ’s accounting practices.

Historically, compliance has been the focus of most knowledge management systems but, can you really have compliance without control?

 A company’s most valuable asset is its people. It’s an aphorism many attribute to Marcus Lemonis, but that has actually been understood by successful business managers since before he was even born. Yet in an uncertain world, we can be sure of one thing – nobody is going to stay in their role forever.  Why […]

Cash control in business is about prevention; preventing the temptation and opportunity for employees to commit fraud or abuse.

What embezzlement techniques are considered the most common embezzlement schemes used by embezzlers?

Financial controls are documented in your finance processes, policies, and procedures manual template. SOX, in general, has generated a lot of discussion about internal controls even requiring financial policies and procedures. How are financial controls implemented?

The Internal Control Procedures Series provides a risk reducing framework of financial internal controls for the ten core accounting cycles — these cycles make up the accounting body of knowledge.  Each financial cycle focuses on a key element of business accounting and, therefore, should be covered in your company’s financial accounting policies and procedures manual.

Sarbanes-Oxley (SOX) requires an internal control system. Yet the current financial crises indicates that the needed internal controls are not effectively implemented in many companies.