Out source the review of your controls |
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To contact us: |
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Internal Audit |
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Caddie Consulting |
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Let us carry your bags while you concentrate on the money shot |
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Bridging the gap between owners and their accounting departments |
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Caddie Consulting offers a service that can best be described as an Out Sourced Internal Auditor. It allows a company to review processes, standards, controls, etc. without incurring the cost of hiring a full-time employee. If your company is audited, we can work with your external auditor to complete audit steps that they will rely upon. In other words, they would randomly test our review of your processes rather than review the processes themselves. The end result is a reduction of the audit fee. A hidden benefit is that we would test the process all year long, not just at the time of the audit. If management has information on a timely basis, they can make changes to improve the productivity of the business. A win-win strategy for sure. If your company is not audited, this gives you an opportunity to see if controls you believe to be in place are actually working for you. It also allows you to see if any of your processes are outdated. Many companies complete tasks just because that’s the way it has always been done. Let us help you evaluate the old way of doing business. We are currently working with a client that has several standards in the normal operations of his business. They include, but are not limited to: recording cash receipts and depositing the checks the day they are received; processing bills received by the end of the next business day; invoicing work in process a day after receiving subcontractors invoices; and reconciling cash the day after the statement is received. We audit these standards are report monthly on whether they are being met. If they are not being met, we explain why the variance has occurred. This allows management to evaluate the standard or enforce them accordingly. |
What we can do for you |
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· Review your internal controls and procedures and discuss with management their expectations · Flowchart your processes and determine the effectiveness of each control · Make recommendations to improve your company’s effectiveness by evaluating all controls · Audit the controls management is relying on to ensure high quality and accurate reports · Report to management our findings on a monthly basis, including any audit irregularities and concerns |
