Internal Control Design and Quality of the Controls
Emerging and growing businesses usually have inadequate internal controls. In many instances, these businesses were formed by an entrepreneur with great business ideas, or are family-run businesses where various activities are performed by family members. These types of companies often have conflicts of interest between operating functions that should be segregated or do not have sufficient controls to prevent misappropriation of funds.
CFO Strategies’ partners and associates include CPAs and auditors with extensive experience in internal control design and evaluation. We have designed internal controls for businesses of varying sizes and complexities in different industries to that protect against misappropriation of cash and loss of other assets from theft or fraud. We understand family-run and small business operating environments, and recognize the need to strike a balance between the costs associated with building a strong control environment with the practical aspects of working in a smaller business environment.
CFO Strategies, through its team of former auditors, also offers outsourced internal audit procedures of key business operations and areas most susceptible to risk to ensure that our clients’ business is well protected and controls are operating effectively as designed.
CFO Strategies’ mission is to ensure that the business’ controls are strong and designed effectively to protect the business owners’ interests. Knowing that the business is protected will allow owners to focus on what’s important – building their business and making money!
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