The need for internal controls

Nearly three out of four companies in the U.S. have experienced some type of fraud event, according to recent fraud investigation surveys. Yet the majority of fraud carried out in small businesses could be prevented through improved corporate governance and better internal controls.

The need for internal controls in today’s business environment is clear. In addition to helping companies mitigate errors and fraudulent activities, these controls are the key to safeguarding corporate assets, ensuring financial information is accurate and reliable, and ultimately, driving your business objectives.

Internal controls and auditing services

Warren Averett’s Consulting Group assists businesses with documenting and implementing new systems of internal controls, as well as identifying areas for improvement in those systems. With the advent of Sarbanes-Oxley and the related guidance, additional focus has been placed on working with corporate governance to:

  • Review internal controls
  • Evaluate effectiveness of internal controls
  • Design systems to promote compliance and prevent fraud

Our staff offers a variety of internal control examinations to assist your company in analyzing, documenting, designing or reviewing internal controls for any or all of your accounting functions. This includes:

Internal control design and review

  • Analysis of business needs
  • Internal controls selection
  • New systems implementation
  • Reorganization or restructuring of accounting functions
  • Review of internal control design to develop cost/staffing efficiencies

Sarbanes Oxley (404) implementation assistance

  • Implementation of internal controls
  • Specialized compliance training
  • Sarbanes Oxley implementation planning

Internal auditing

  • Forensic fraud services
  • Outsourced internal auditing services

Service Organization Control (SOC) services

  • Internal controls assurance
  • Individual project work planning
  • Evaluation of system efficiencies