Good internal controls are important in the majority of workplaces today for a variety of reasons – from the neighborhood grocery store to the doctor’s office. First, they help to ensure compliance with laws and regulations. Second, they help provide management with reliable information to base their financial reports.
The establishment of a good system of internal controls starts with management. The manager’s role is to support good business practices and decision-making. Good business practices to support internal control include the following: written policies and procedures to guide staff in making decisions, organization charts with responsibilities of company employees, training programs to communicate goals and expectations, and periodic evaluations to provide employees with performance feedback.
Questions about internal controls in the workplace? Please call us at 802-878-1963 or visit us on the Web: www.dh-cpa.com. You can also refer to the following article from Kansas State University: KSU