The internal control process was designed to test the efficiency of operations, reliability of financial reporting, and compliance with applicable laws and regulations. In the past, many boards used the internal control process utilized by their management but it is imperative that the board fully understands and exercises their oversight responsibilities.
No better internal control exists than curious board members utilizing a strategic approach to reviewing the day-to-day issues affecting their property’s operations. In this regard, you can rely on our team to report on the internal controls that exist and ensure that they are being used correctly, assure that important aspects of operations are controlled, and make recommendations on where procedures can be improved, consolidated, and are no longer cost-effective to assist in your board achieving a Best Practices designation.
