Internal Control Review & Set Up
According to the Association of Certified Fraud Examiners’ Report to the Nations 2022 Global Study on Occupational Fraud and Abuse, small businesses suffer a median loss of $150,000 per fraud. Due to their size, they will likely feel the impact of the loss much more than a larger business would. Small businesses cannot afford to lose any money, especially to fraud. 29% of those frauds were caused by a lack of internal controls.
Many small businesses know they need internal controls to reduce the probability of the occurrence of internal fraud. They can become overwhelmed with deciding what they need to protect using the resources they have available. And smaller organizations are often challenged to implement segregation of duties controls because there are not enough people.
Facts & Figures Forensics can review your current internal controls and provide recommendations to strengthen them. Or, I can set up new ones. I use the Vitalics System, which is designed to help with the lack of segregation of duties found in small business industries.
The Vitalics System provides each user access to forms and guidance from a consultant. The forms were created to be easy to follow and they include examples of policies and procedures, customizable internal control forms, checklists, and questionnaires. Vitalics is an important tool that can be easily implemented, does not require a significant investment in time or money, and does not involve- hiring an additional person to maintain the segregation of duties.
Facts & Figures Forensics can also work with you to educate your staff. Internal controls work best when employees understand that their purpose is not a result of your lack of trust in them, but rather because you want to keep your assets safe and your employees safe in their jobs.
It is easier to prevent a fraud than to recover from one.
As a member of the Association of Certified Fraud Examiners, Robyn’s passion is helping to fight fraud by raising awareness and changing the denial mindset.
Robyn has presented to a variety of groups including professional organizations, group events, business organizations, and Chamber events. Robyn has also provided guest lectures to classrooms of future accounting professionals.
Each presentation is adapted to fit the audience and the topic being covered. Her presentations are designed to educate about the types of fraud that exist and how to recognize when fraud is occurring. She also offers useful tips to prevent fraud from occurring.
Her presentations are engaging and dynamic. Robyn draws on her experience to offer insightful tips on how to prevent, detect and deter fraud in an organization. She also provides helpful examples from cases she has worked on to illustrate what can happen to an organization that becomes a victim of fraud.
She is available to speak to groups on topics such as:
- Fraud prevention, detection, and deterrence
- Forensic Accounting
- Bookkeeping for the small business
Would you like to discuss presenting before your organization?
Certified SCORE Mentor
These are some of the organizations to which Robyn has given presentations:
- The Colorado Springs Chapter of the Colorado Society of CPAs
- Colorado Springs Community Roundtable
- 2020 Cybercraft Summit
- The El Paso County Bar Association Bankruptcy Section
- The El Paso County Bar Association Small Firm Section
- Colorado State Investigator’s Association
- The Faith Based Security Network
- Six and Geving Insurance
- Colorado Springs SCORE
- The University of Colorado at Colorado Springs Honor Society
- The Eastern Plains Chamber of Commerce
- The Tri-Lakes Chamber of Commerce