Internal Control Examination and Reviews

Small Businesses have a difficult time implementing internal controls that require segregation of duties.  Mainly because of the additional costs to hire multiple employees to separate job functions.  We can complete a full internal control audit and accounting review which includes setting up a  customized internal control system for your small business using Vitalics which is specifically designed for the small business industry.  Vitalics is a specific internal control system that is included with our grant opportunities and contains over 145 forms and checklist, accountability and a solution to the lack of segregation of duties for the small business industries day to day bookkeeping.  The total grant amount for an internal control examination with the Vitalics internal control set-up is $4,500.00 depending on the size of the organization.

There are two different options in setting up a customized internal control program.

Customized Internal Control Program

Complete Internal Control Examination – Fraud Risk Assessment and Control Program Set-up

  • Complete business risk assessment and analysis of current controls in place
  • Review accounting records and data over a specified period of time
  • Create financial ratios and analysis comparisons
  • Write audit report and findings with recommendations
  • Write internal control procedures and set up Vitalics internal control system based upon those findings
  • Meet with owners / board regarding findings and procedures
  • Train employees on how to follow controls and use system
  •  Full access to computer system, accounting data and interviewing key personnel and owners are required

Customized Internal Control Set-up

This grant opportunity is for organizations that do not need a full internal control examination and review and would benefit from an internal control set-up.  Total grant amount for this option is $900.00.

  • Complete business risk assessment and analysis of current controls in place
  • Write internal control system and procedures
  • Set-up and customize Vitalics tailored to your organization
  • Train employees on how to follow controls and use system

Continued Internal Control Review and Maintenance

After your grant based internal control examination or set-up, your organization should continue with completing internal control review maintenance.  The organization is at will to enter into a contract with the consultant or examiner through their own engagement agreement. Business Fraud Prevention only provides one grant per organization. Any services after the approved grant must be paid for by the organization with the consultant.

Grant Based Services

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Apply for a grant based internal control examination