CFO & Advisory

We make sure that our role as chief financial officer translates into full-time confidence.


Internal Controls and Processes

two persons checking the internal control and making notes of it

Are you tired of feeling like your business is constantly playing catch-up? Do internal controls and processes seem to take forever, leaving little time for innovation and growth? It's time to start thinking about maximizing efficiency. At Time Value Accounting & Business Services, we offer a range of services that help business owners stay on top of their finances and operations.

The best way to ensure that your business stays on track is by implementing internal controls and processes. Internal controls encompass all the policies, procedures, and processes a company has in place to safeguard its assets, ensure accurate financial reporting, and comply with regulations. By partnering with us, you'll have access to professionals who can assess your existing internal controls or build new ones from scratch tailored specifically to your business needs.

What are the benefits of implementing internal controls in a business?

  • Safeguarding Assets: A process of reducing the risk of asset misappropriation and ensuring that resources are used appropriately. The most common controls include segregation of duties, physical safeguards, and proper authorization procedures.

  • Preventing Errors and Fraud: Internal controls help companies identify discrepancies, irregularities, and potential fraud schemes. Businesses can minimize the risk of financial loss, reputational damage, and legal liabilities by implementing robust internal controls.

  • Ensuring Accuracy of Financial Information: By implementing controls over financial processes, such as transaction recording, account reconciliations, and financial statement preparation, organizations can enhance the integrity of their financial information.

  • Compliance with Laws and Regulations: Help the organizations comply with applicable laws, regulations, and industry standards. By adhering to these requirements, organizations can avoid penalties, fines, and legal consequences.

  • Efficient Operations: Effective internal controls help companies improve their operations by identifying inefficiencies, streamlining processes, and allocating resources optimally. This can lead to cost savings, improved productivity, and better overall performance.

  • Risk Management: Help manage risks by identifying, assessing, and mitigating potential threats to an organization's objectives. By implementing control activities that address specific risks, companies can reduce the likelihood and impact of adverse events.

Time Value Accounting & Business Services provide valuable internal controls and process services to any type of business. By ensuring compliance with regulations and laws through proper documentation, monitoring, assessment of internal controls, and implementing new policies and procedures, we can help you maintain accurate financial records. Our goal is to always provide you with the tools you need to achieve success while minimizing risk along the way.

Don't wait until something goes wrong before taking action. Reach out to us today to learn how we can help you improve operations, reduce costs, increase profits, and ultimately achieve long-term success!