{"id":103497,"date":"2022-10-24t12:20:23","date_gmt":"2022-10-24t16:20:23","guid":{"rendered":"\/\/www.g005e.com\/?p=103497"},"modified":"2024-08-07t23:10:22","modified_gmt":"2024-08-08t03:10:22","slug":"how-to-explain-internal-controls-to-clients","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/10\/24\/how-to-explain-internal-controls-to-clients\/","title":{"rendered":"how to explain internal controls to clients"},"content":{"rendered":"

\"man<\/a>then you have to use them.<\/strong><\/p>\n

by ed mendlowitz<\/em>
\n77 ways to wow!<\/a><\/em><\/p>\n

what are internal controls? auditors widely use this term. it also appears multiple times in engagement letters for audits of businesses and not-for-profits, but i do not believe many outside of the accounting profession really know or understand what internal controls are. i will try to explain it here.<\/p>\n

more: <\/b>the ten financial controls that\u2019ll make you a hero<\/a> | rule #1: start with cash<\/a> | the priorities were backward<\/a> | how to read a financial statement<\/a> | 77 thoughts about client needs<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

internal controls refer to an organization\u2019s system of deterrence, oversight, checks and balances. an illustration is where someone in a business writes and mails the checks to pay a bill. if this same person then receives the bank statement and performs the reconciliation of that account, there would not be any control or oversight on that person and whether the payment was proper and not misdirected. they are checking their own work. this is how many frauds occur.
\n read more →<\/a><\/p>\n