Decide if Your Small Business Needs to Hire an Internal Auditor

by Craig Anthony

0 min read

An internal auditor looks over your business practices, identifies risks, and sets up controls or processes to analyze your operations for potential issues. Internal auditors don’t just work with big businesses or corporations; these individuals can also help small businesses.

If you are worried about internal theft, fraud, industry compliance issues or similar matters, you may want to consult with an internal auditor. Alternatively, you may want to develop your own strategies to monitor these issues in a way that safeguards against them. For example, simple processes such as having a second person reconcile receipts with accounting software entries once a month can be considered a type of internal audit.

References & Resources

Related Articles

Understanding Limitations of Internal Controls

Internal controls help you keep your business operating smoothly and ensures that…

Read more

8 Ways to Avoid Investment Fraud

Investment fraud, also known as securities fraud, is a practice involving financial…

Read more

Preventing Fraud in Your Small Business

No business, regardless of its type or size, is immune to fraud.…

Read more