Matrix Consulting Group provides a wide range of best practice assessments, preventive and detective internal controls for your organization. Internal controls are critical for an organization to address proactively rather than reactively:
- • Hundreds of local governments have experienced embezzlement or asset misappropriation incidents causing both financial and reputational harm.
- • Local government CAFR’s specifically mention that it is management’s responsibility to design, implement, and maintain effective internal controls.
- • According to the Association of Certified Fraud Examiners, only 4% of fraud cases were detected by external audit and local government external auditors.
- • Many recent local government theft and embezzlement incidents occurred continuously over several years even with regular external audits.
Provide additional reassurance to your elected officials and the public of your proactive efforts to reduce your inherent risk of fraud, waste, and abuse.
We are experts in local government internal controls and our sole focus is local government.
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Custom Internal Control and Fraud Risk Assessments
Our experts provide thorough best practice recommendations customized to your local government. We review over 200 specific areas of internal controls to help ensure modern and best practice controls are implemented to reduce the risks of fraud, waste, and abuse.
Internal Control Audits on Behalf of Management
We will sample and independently audit invoices, inventory, payroll, and other functions to assess whether your internal controls are effective. Unlike external annual audits, we audit on behalf of management and go much deeper into internal control assessments to help best protect our client agencies’ interests.
Internal Control Self-Assessment Modules
Designed for small local governments with fewer than 50 employees. These self-assessments help to better protect these small organizations from internal theft, embezzlement, and other misconduct. There are 221 assessment questions covering several core areas: cash and cash handling; employee expenses; vendor management; inventory and equipment; checks and check handling; governance; physical controls, information technology; finance; human resources; payroll; and purchasing controls.
Custom On-Site Assessments
We employ experts in local government operations and internal controls who:
- • Protect your credibility;
- • Provide significant reassurance to governing boards, bond holders, management staff, and citizens;
- • Design and implement best practice preventive and detective internal controls for 2020 and beyond;
- • Prevent and detect fraud, waste, and abuse – the type that can cause serious negative news headlines if something happens and is not stopped quickly.