Internal Controls

Orlando internal controls play an integral role in a company’s success, but many business owners do not have a clear understanding of their importance. Proper internal controls will ensure safety of your assets and will generally assist in achieving your business objectives.

We conduct assessment of your internal controls based on the Committee of Sponsoring Organizations of the Treadway Commission (COSO) developed model for evaluating internal controls. This model has been adopted as the generally accepted framework for internal control and is widely recognized as the definitive standard against which organizations measure the effectiveness of their systems of internal control.

We use the following five objectives to evaluate your Orlando internal controls:

Control Environment

  • Integrity and Ethical Values
  • Commitment to Competence
  • Management’s Philosophy and Operating Style
  • Organizational Structure
  • Assignment of Authority and Responsibility
  • Human Resource Policies and Procedures

Risk Assessment

  • Company-wide Objectives
  • Process-level Objectives
  • Risk Identification and Analysis
    • Billing to Cash Process
    • Procure to Pay Process
    • Cash and Investments Process
    • Payroll Process
  • Managing Change

Control Activities

  • Policies and Procedures
  • Security (Application and Network)
  • Application Change Management
  • Business Continuity / Backups
  • Outsourcing

Information and Communication

  • Quality of Information
  • Effectiveness of Communication

Monitoring

  • On-going Monitoring
  • Separate Evaluations
  • Reporting Deficiencies

Our Orlando internal controls evaluation includes interviews with staff members, detail documentation of processes, analysis of various reports and application and network user access testing. We identify high and medium risk areas and deficiencies in those areas and provide you with mitigating solutions (preventive and detective) and suggestions for improvements.