Internal Controls in North Bethesda

Mitigating Risk and Protecting
Your Business From Fraud

Every business faces risk, but with an effective system of internal control measures in place, that risk is mitigated. This is not a task that is easily accomplished in-house, however, because as a business owner, your focus is running your business, managing employees, and turning a profit.

Effective Internal Control Systems That Meet Your Business Needs.

As trained professionals, we have assisted many business owners in creating effective internal control systems to prevent employee fraud, ensure compliance with regulations, and make sure company policies and procedures are in place so that your business operations are effective and efficient. We work with your business to identify and document weaknesses with existing internal controls, then perform procedures to test whether the current internal controls you have in place are effective. Finally, we offer recommendations in a report of findings that can be used to strengthen your internal control systems, and that reflect the needs of a particular business.  

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(202) 841-9198

What we do for you:

  • Recommend segregation of duties for implementation by dividing responsibilities so that no single person has control over all aspects of financial transactions.
  • Make sure transactions are authorized through delegating approval authority to an individual only when the transactions are consistent with policy and funds are available.
  • Ensure records are routinely reviewed and reconciled by someone other than the preparer or transactor.
  • Ensure that equipment, inventories, cash, and other property are accounted for.
  • Physically secure, periodically count, and compared with item descriptions shown on control records.
  • Provide employees with appropriate training and guidance to carry out their job duties.
  • Set up proper channels for reporting suspected improprieties.
  • Document policies and procedures and make them accessible to employees.
  • Review operations to determine whether the results are consistent with established objectives and goals and carried out as planned.

Don’t Let Employee Fraud Be the Downfall of Your Business.

If you suspect employee fraud or are concerned about your business risk, then maybe it’s time to review and update your internal control systems.

About Tia Cantrell, CPA

Tia Cantrell was born in the Republic of Georgia, in the seaside palm tree shaded city of Sokhumi on the Black Sea. She became a refugee at the age of 13. Her entire family was displaced as a result of a punitive post-Soviet war. Tia’s parents stayed back until the very last day and spent the rest of their lives hoping one day they would get to go back to the home they missed so much. Unfortunately, that’s one dream she has not been able to help them realize.

At 16, Tia became an exchange student and came to an American high school, completely mesmerized by the new culture. She went back to Georgia, and 5 years later her American host parents gave her an opportunity of a lifetime to come back to the US and start a new life in the States. That’s one gift that Tia can never fully repay them for. It was priceless to her.

Tia Cantrell entered college not quite sure of the path she would choose. That changed when Dr. Terrell entered her classroom. She was strong, vibrant, extremely competent with a knack to make the most complex topics easily understood. During her class she would tell stories from when she and her husband owned and operated a public accounting firm for 18 years. She shared that they would help clients from all walks of life. That was the spark that ignited the beginning of Tia’s lifelong love of accounting and finances, a critical trait that makes a true difference in delivering quality solutions to her clients to this day.

That lifelong love was also made possible by a handsome Tennessean she met along her journey. Many years later, with two little girls and their share of ups and downs, they are still going strong and Tia is confident that she wouldn’t change a thing.

In Tia’s own words:

As a young mom, and early in my career, I worked in government internal auditing, eventually transitioning to project/program management, leading large-scale financial software implementations, facilitating complex issue resolutions across teams, departments and organizations. (Boy! That’s a mouthful!)

That was all great but I couldn’t live without those numbers (it really is a curse!) so in a parallel path I supported two full-service CPA firms, true giants in their field, David Clampitt, CPA and CJ Babbit, CPA. I was truly fortunate to have had such amazing mentors. These two positions completely influenced my style and the way I approach problem resolution for my own business and individual clients today.

That is why North Bethesda CPA was born: to help me and the employees who share my vision to take a holistic view of your finances and tailor our services to deliver the best value to our clients. Make an appointment with us. You’ll learn for yourself how we can help. Click here to get started. 

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