Establish and Maintain Effective Internal Controls

There are times when it is a good idea to seek outside professional help to determine whether you have adequate controls in place for protection from employee theft and to ensure that your resources are being handled appropriately.

JRM Financial Associates offers Internal Business Controls to evaluate your internal control systems and to assess whether your operating procedures are efficient and effective. Based on our findings, we make recommendations for changes to improve your procedures.  Instituting the recommended changes can help your company run more smoothly and more profitably.

What JRM does for you...

• Ensures that no one person has control over all parts of a given financial transaction. This is accomplished by segregating duties and dividing them among different people to reduce risks including inappropriate employee actions.
  

• Sets procedures that require transaction authorization by a person with delegated authority. This person will ensure that funds are available for the transaction and also that the action taken is consistent with company policies.  
  

• Institutes transaction processing procedures that include routine review and reconciliation of transactions by an authorized individual who did not prepare the transaction.  
  

• Establishes control records and procedures that call for physically securing cash and other property, and creating and periodically maintaining an inventory that is compared with the control records.
  

• Trains and guides employees, ensuring that they receive an appropriate level of direction and supervision, have the knowledge needed to fulfill their work duties, and that they are aware of the obligation to and information about the proper channels for reporting suspected improprieties.
  

• Reduces the workflow threat of prolonged employee absences or turnovers by documenting and distributing policies and procedures of your operations.  This documentation gives day-to-day guidance to your staff and employees.  
  

• Evaluates your operations relative to your established objectives and goals and advises whether your operational results are consistent with those goals and objectives.