Internal Control Studies
Strong internal controls help protect your organization’s assets, support reliable financial reporting, and reduce the risk of errors and fraud. But as your organization grows and processes, people, and technology change, controls that once worked well may no longer address today’s risks.
KatzAbosch’s internal control study services help organizations identify control gaps and opportunities for improvement before they become larger problems. Our team evaluates existing procedures related to accounts payable, cash management, and fraud prevention to identify areas of risk and provide practical recommendations for strengthening your internal controls.
Internal Controls for Accounts Payable
Accounts payable is an area where strong internal controls matter most. Without appropriate controls, organizations may face increased risk of duplicate payments, unauthorized vendor activity, fictitious invoices, and other errors or irregularities. Our team reviews your accounts payable processes, including segregation of duties, vendor setup and changes, invoice approval, and payment authorization, to identify control gaps and recommend practical improvements that strengthen your processes and help safeguard organizational assets.
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Internal Controls for Cash Management
Effective cash management controls help safeguard one of your organization’s most liquid assets. Our team evaluates controls over cash receipts, accounts receivable, cash disbursements, bank reconciliations, and other key cash processes to identify control gaps and opportunities for improvement. We consider areas such as segregation of duties, authorization and approval procedures, and the handling and recording of cash transactions, and provide practical recommendations designed to strengthen your overall control environment.
While no system of internal controls can completely eliminate the risk of fraud, well-designed controls can help reduce opportunities for fraud and increase the likelihood that irregularities are identified promptly. Our team evaluates areas like segregation of duties, authorization and approval processes, access to assets and financial systems, and management review controls to identify gaps and recommend practical improvements.
Process Improvement and Cost Savings Services
Internal control reviews often uncover process inefficiencies and control risks. Using Lean Six Sigma principles, we help identify opportunities to streamline processes, reduce unnecessary steps, and improve how work flows through your organization. Areas of focus may include:
- Aligning processes with outcomes that matter to your clients and stakeholders
- Reducing unnecessary variation and improving consistency in financial processes
- Mapping processes to identify bottlenecks, redundancies, and inefficiencies
- Eliminating non-value-adding activities that consume time and resources
“We have 30 people on our board, but a small set of people in the control environment. KatzAbosch asks important questions about changes in roles or governance that have helped us build a solid model for risk management.”
Internal Control Studies Insights
Accounting & Assurance Update: Old and New Standards and Fraud Considerations for Mid-Market Firms
The accounting landscape shifted meaningfully in 2025, and mid-market firms are still working through the implications. New FASB…
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Is Your Organization Ready for a Financial Statement Audit?
Summary Audit readiness isn’t built in the weeks before fieldwork begins—it’s the result of consistent processes, sound documentation, and financial discipline maintained throughout the…
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Selling Your Business? Here’s How to Prepare for Due Diligence
Summary A formal business valuation before going to market serves as a dry run for due diligence—surfacing weaknesses,…
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