The Internal Controls Guidebook for Private Businesses: Prevent fraud and material mistakes in your business, while protecting your employees (and

The Internal Controls Guidebook for Private Businesses: Prevent fraud and material mistakes in your business, while protecting your employees (and

I have a teenage son. Would I leave him home alone with a girlfriend, with bottles of alcohol left out on the counter, while I’m gone on a weekend getaway with my wife? Yeah, not happening. He’s a good kid but temptations can result in anyone making bad decisions. Likewise, you don’t want to give your employees an open invitation to commit fraud, theft, or otherwise damage your business. The “fraud triangle” is a great illustration. If an employee has “opportunity”, “pressure”, and “rationalization”, then the odds of fraud greatly increase. Implementing simple internal controls can remove the perception of one or more points of the triangle and protect your business AND the employee from serious consequences. This book was created to help private businesses (meaning not publicly traded on a stock market) understand what “internal controls” are, why they are important, and a library of examples to consider for implementation. You'll rest easier knowing your financial reports are accurate, your cash is protected, and your employees have fewer temptations to cut corners or make decisions they'll regret later. I hope this will help business leaders identify ways to protect their businesses and their employees from intentional and unintentional deviations from standard business operations. It addresses business processes and controls for accounting, IT, HR, procurement, cash management, and Executive Leadership.