Internal Control Systems

Discover How Our Systems Can Free You to Work ON Your Business… Not IN Your Business.

We can help you help your business by providing an objective review of your internal control systems and determine the efficiency and effectiveness of your operating procedures.

Among the corrections we might help you make…

  • Segregate duties in order to reduce risk of error or inappropriate action. This involves making sure that no one person has control over all aspects of any single financial transaction.
  • Ensuring that all transactions are handled by a delegate with approved authority to handle such transactions.
  • Put systems into place which create a process where all transactions are reviewed and reconciled by someone other than the transactor.
  • Assure physical safety of all equipment and introduce periodic counts to compare equipment, inventory, cash and other property are consistent with that on record.
  • Implement job training for all employees and make sure that employees have the knowledge and resources to carry out their job duties, are provided with an appropriate amount of supervision, and are aware of the channels for reporting potential problems.
  • Documentation of all policies and procedures that are accessible to your employees and the procedures for continued guidance and training regarding these procedures to address employee turnover or prolonged employee absence.
  • A consistent review of operations to determine that results are consistent with objectives and goals.

Let Us Help:

Alternative Approaches To Paid Time Off Policy for Skagit County Businesses

October is right around the corner. So is the October 15th extension deadline. And so is the fourth quarter for your Skagit County business.As we approach Q4, be mindful of the usual year-end accounting needs and reporting requirements that will be popping up. We’ll...

Leadership and Empowerment for Business Owners: A Story

Let me begin by noting, if you were looking to file for the Employee Retention Credit this year, heads up that the IRS isn't processing any new claims through the end of the year. This is an effort to keep you out of hot water if you shouldn't be claiming...

Padgett & Padgett, PLLC CPA on What “Open For Business” Means To The IRS

We’re seeing businesses across the nation acknowledge this week’s 9/11 day of remembrance in really special ways. It’s been 22 years already.Looking back, 2001 and 2020 are similar as stand-out turning points for America, albeit in different ways and for...

Work From Home Policy for Skagit County Businesses

There’s no better way to celebrate work than by taking a day off. The irony of the Labor Day holiday gets me every year, but I do hope that it provided a little extra rest on the front end of a busy fall season.I mentioned in one of my recent notes another piece of...

Facing the AI in Business Trend in Your Skagit County Business

Since the release of ChatGPT in November of last year, headlines about AI in business have been incessant. One of the biggest controversies is whether or not AI is a threat to the job market. Lots of differing opinions on this one, and time will soon reveal...

Compensation Is Just the Start, Skagit County Business Owners

We’re just over a month away from the MLB playoffs, and this year (like every year) has had its share of sketchy calls that fans and players have been unhappy about. While not everyone’s favorite summer pastime (the sports season that never ends still has more...

Padgett & Padgett, PLLC CPA’s 4 Straightforward Questions to Uncover Your Business Why

I suppose there’s never been an easy time to be in business. It’s tempting to look at the current economic situation and cite all the things working against business owners right now. And Google helps with that... My internet search this morning lent me the...

Why Skagit County Married Owners Might Choose the QJV Route

Remember three years ago when you depended on Zoom for work meetings and virtual schooling for your kids? While you’re probably really grateful the second one isn’t a reality anymore, the first one still had its appeal (unless something like this...

Business Cash Advance: A Loan Alternative for Skagit County Businesses

This year has been a less-than-fun rollercoaster in the world of finance.Well, good news on that front — no more recession bogeyman lurking under the bed, at least that’s what the Fed declared as they raised rates again last week. Doesn’t mean more interest rate...

Keeping Expenses Separate in Your Skagit County Business

Did you see the Barbie movie or Oppenheimer this weekend? Or jump in with the 200,000 other Barbenheimers and see both?In case you didn’t, your social media feed likely filled you in on what you missed (or didn’t, depending on your view of these things).What a weekend...

Ready to come in for an appointment?

Click here to schedule a time to meet with us. We will NOT make dealing with a tax professional as painful as it’s been in the past!

Contact Us