Evaluation of Internal Controls
The loss that occurs when an employee misappropriates funds greatly exceeds the dollars taken. The real loss is in the distraction, frustration, disappointment, and additional costs incurred to resolve the situation.
Garcia & Ortiz has developed the expertise to assist clients in improving their internal controls and minimize the opportunity for misappropriation of funds and other types of fraud.
We will visit your business to analyze payroll transactions, payment of bills and track internal control procedures, prepare a checklist for periodic monitoring of controls, a list of recommendations for improvement of controls, and conduct periodic reviews to hold personnel accountable.
These limited scope engagements are not guaranteed to detect every misuse of funds, but they minimize the opportunity for those who abuse the trust placed on key employees.
Smaller businesses have the serious difficulty of not being able to divide responsibilities in a manner that creates the necessary checks and balances. A periodic review by independent professionals can save your business from the unnecessary headaches caused by misappropriation of funds.