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Tips for better internal controls at small organizations

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Sep 07, 2016

On September 7, 2016, CGMA Magazine released an article where they discuss the five steps to strengthen internal controls at small businesses and not-for-profits.

Internal controls may lag at smaller organisations as managers sacrifice them for the sake of service delivery, particularly at cost-conscious not-for-profits and start-up organisations.

In the article, they give five low-cost steps to consider as a starting point: 

  • Set a strong tone internally
  • Provide a formal system for individuals to raise concerns without fear of retaliation
  • Be attuned to what is happening within the organisation
  • Focus on relationship-building and open communication
  • Consistently enforce policies across the entity to uphold fairness

Review the article on CGMA Magazine's website.

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