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Is it time to update your processes and controls?

Your organization has changed. From employees to the services you offer to the technology you use, everything is in a constant state of change. However, one area that typically remains unchanged are the processes and controls that were originally set in place. But is that ok? If things are continually changing, shouldn’t you also be reviewing your processes and controls to determine if they should be modified as well? Often, outdated processes and controls are relied upon or even completely different than what is in the handbook. Well-documented processes should:

  • Allow others (e.g., management, auditors, new hires) to understand the process
  • Get everyone in agreement with how the process should be structured
  • Assign responsibilities to each person so they can be accountable for their tasks
  • Identify risks and controls throughout the process or lack thereof
  • Facilitate the discussion for process improvements

Don’t miss: Who is the PCC and what do they do?

When was the last time your organization really reviewed the written processes and controls for your organization? For most, it has probably been far too long. Often considered a low priority, analyzing processes and controls is essential for an organization to operate effectively and efficiently. For some entities, this exercise may only take a limited amount of time. Others, however, may struggle with assigning someone to undertake this project while also completing their regular workload. In addition, the person should have a solid understanding of not only the organization but what controls should be implemented in each step of the process. This is where Henry+Horne can help.

If you need an in-depth review of an organization’s operations, we can help determine where efficiencies can be gained as well as how to strengthen the overall control environment. If it’s time for your organization to have a professional review of your processes, don’t hesitate to reach out.

 

Andrew Gill, CPA

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