Internal Controls

Mitigating Your Risk

All businesses face risk. Is fraud occurring in your business? Are you complying with regulations? Does staff follow established policies and procedures? A strong internal control system lessens those risks, creates efficiency and increases your company’s reputation.

As technology and business strategy changes, so does risk. Evaluate and test your internal controls regularly to ensure you’re operating effectively and your reporting is reliable. Our team of professionals helps you build, test and improve your internal controls with an:

  • Internal control review. Starting with identifying the risks you face, we’ll evaluate the controls you have in place via interviews with management and staff, site visits and observations. You’ll receive a findings report that includes recommendations and best practices.
  • Internal control testing. A follow-up to an internal control review, this is a look at all or select risk areas. By selecting a sample of documents and transactions, we’ll test for adherence to policies and procedures to gauge the effectiveness of the controls.

Some of the areas we review, evaluate and test include:

  • Segregation of duties and accounting processes
    • Risk assessment and self evaluations
    • Cash controls
    • Electronic banking
    • Billing
    • Collections
    • Payroll
    • Records, coding and billing
    • Contracting
    • Credentialing
  • Information technology infrastructure
    • IT controls for specific applications
    • General IT department controls
  • Board governance
    • Good governance
    • Ethical practices
    • Board self-evaluations

Certifications: Certified Fraud Examiners (CFEs) and Certified Information Systems Auditors (CISAs)

Internal Control Experience: We work with management to address all the risks faced from a financial, regulatory and reputation perspective. Our goal is to successfully provide management with measurable assurances that their facilities are operating effectively and efficiently.

If you are concerned about your risk, then you should test and improve your internal controls. Contact us to see how we can help you identify potential risk and implement controls to mitigate that risk.