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Authorisation and Approval Limits Who may commit the business.WHY LIMITS MATTERThey determine how much damage a single decision can... Building Controls as the Business Grows Scaling oversight.WHAT CHANGES WITH GROWTHYou can no longer see everything More people handle... Conducting Internal Checks and Reviews Verifying that controls operate.WHY IT IS NECESSARYControls that are not checked stop being... Controlling Cash and Receipts Money coming in.WHY IT IS VULNERABLECash is anonymous and revenue not recorded is invisible.WHAT... Controlling Payments Money leaving the business.WHAT THE RISKS AREPayments for goods never received Payments to... Controlling Payroll Paying people.WHAT THE RISKS AREEmployees on the payroll who do not exist Employees who have left... Controlling Stock and Assets Physical things the business owns.WHAT THE RISKS ARETheft by staff, customers or outsiders Stock... Controlling System and Data Access Who can do what.WHY IT MATTERSAccess determines what someone can take, change or destroy.WHAT TO... Documenting Controls Writing down how things work.WHY IT MATTERSControls that exist only in practice disappear when... Identifying What Needs Controlling Where to focus.WHAT TO ESTABLISHWhere the business could lose money, information or its... Internal Controls and Audit: Everything That Matters, Briefly The whole category in one page.EVERY CONTROL EXISTS BECAUSE SOMETHING WENT WRONG SOMEWHEREThe two... Managing Control in Small Businesses Doing this with few people.WHAT THE CONSTRAINT ISSeparation of duties requires people you do not... Performing Reconciliations The detective control that finds most problems.WHAT RECONCILIATION ISComparing two independent... Preparing for Regulatory Inspections When authorities examine.WHAT INSPECTIONS EXAMINECompliance with the requirements applying to... Responding to Control Failures When something went wrong.WHAT TO ESTABLISH FIRSTWhat actually happened and its extent.WHY EXTENT... Reviewing Exceptions and Unusual Items Looking at what stands out.WHY IT MATTERSMost problems appear as something unusual before they... Separating Duties The foundational control.WHAT IT MEANSNo single person controls a transaction from beginning to... Understanding External Audit When someone outside examines the business.WHAT AN AUDIT ISAn independent examination of... Understanding What Internal Controls Are The purpose, stated plainly.WHAT A CONTROL ISSomething that makes an error or a loss less likely,...

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