Interim Controller FR Services

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Internal controls are accounting and auditing processes used in a company's finance department that ensure the integrity of financial reporting and regulatory compliance. Internal controls help companies to comply with laws and regulations and prevent fraud. They can also help improve operational efficiency by ensuring that budgets are adhered to, policies are followed, capital shortages are identified, and accurate reports are generated for leadership.

Focuses on specific areas like fraud detection, compliance violations, or operational inefficiencies. Triggered by special circumstances. A special audit is frequently conducted due to suspected fraud, legal disputes, financial irregularities, or regulatory requirements.

 The year-end audit checklist is a comprehensive review that verifies that all financial statements reflect the company's financial position. This process helps identify discrepancies, errors, or fraudulent activities, thereby maintaining the integrity of financial reporting. 

 Due diligence allows the buyer in the M&A process to confirm hitherto undisclosed details about the selling company’s financials, contracts, personnel and customers. In other words, it allows the buyer to obtain a complete picture of the business being acquired.