Internal Control Assessment

Internal Control Assessment

The Committee of Sponsoring Organizations (COSO) defines Internal control as “a process, effected by an entity’s board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance.”
A purpose of internal control is to help an organization accomplish its objectives and goals by safeguarding resources against fraud, errors, theft, and waste. Internal controls assist management in maintaining accurate and reliable financial data and promoting adherence to company policies. The Allen CPA Firm assesses internal control environments and implements controls that can help companies achieve success.

We serve our clients by providing the following:

• People. Processes. Products. Help implement processes to protect financial assets and mitigate fraud
• Ongoing communication, great customer service, and individual attention
• Saving money by eliminating waste, reducing expenses, and improving processes
• Tracking and analyzing spending patterns and identifying areas where expenses can be reduced
• Educating and helping implement controls that can reduce theft and errors
• Reliable and trusted professionals
• Improving financial foundation—understanding financial position
• Time to focus on core business—providing insights/advice in accounting, business, financial aspects
• Yearning for client success and legacy—listening and caring