Internal Controls & Forensic Accounting

/Internal Controls & Forensic Accounting
Risk Financial Advisory

Every organization faces risk issues. Whether determining compliance with certain policies or regulations, evaluating the efficiency and effectiveness of operations, preventing fraud or simply identifying vulnerable areas for your business organization, managing those risks is the key to achieving long term success.

At Kernutt Stokes, our team of experienced professionals can help your organization identify, understand and effectively manage your risks. Our comprehensive expertise and in-depth assessment provides the insight needed for making sound business decisions.

Internal Control Consulting

Successful internal controls are essential for:

  • Efficient and effective use of resources
  • Safeguarding assets and preventing errors
  • Managing risk and using solid management practices
  • Achieving objectives and maintaining quality staff
  • Sustaining credibility with stakeholders, including funders, creditors and members

The Kernutt Stokes team will:

  • Review and assess your organization’s controls and risks
  • Consider board and management objectives
  • Complete a report with practical recommendations considering cost benefit
  • Assist with implementation of controls and provide critical follow-up

Policy and Procedure Review

Policy and procedure manuals are the cornerstone for accountability and a productive and conducive work environment. Every organization, regardless of size, should have a current and clearly written policy and procedure manual that concisely states the operational framework for the business. The consistency provided by a sound procedural document allows an organization to operate with greater efficiency and mitigated risk.

Kernutt Stokes professionals will assist your business with:

  • Reviewing current policy and procedure manuals to identify gaps or suggest areas for improvement
  • Developing policy and procedure manuals, with emphasis on:
    • Staff skill sets
    • Checklists to assist staff with understanding and implementing policies and procedures
    • The specific needs of your organization

Training

Kernutt Stokes offers a variety of training services to assist organizations with implementation of controls, policies and procedures, and accounting systems. We can also provide training on corporate governance and understanding financial statements. Our team has extensive experience helping businesses understand and adhere to new or enhanced operational processes and systems. The key to successfully capitalizing on solid business practices is employee compliance. We will ensure your organization’s staff has the knowledge, skill and capability to consistently achieve that compliance.

Please don’t hesitate to contact us to discuss your business’s risk and financial advisory needs.

Forensic Accounting

With most white collar crimes, fraud and abuse are highly difficult to detect. As a result, the knowledge and insight of experienced professionals is essential when you need forensic accounting services. At Kernutt Stokes, our certified fraud examiners can help you assess your exposure and create a fraud prevention plan to mitigate your risks. In the unfortunate circumstance that fraud does occur, our team can conduct an examination to identify and quantify the loss and assist with recovery.

Kernutt Stokes has experience providing forensic accounting services in the following areas:

  • Inventory and property loss
  • Employee dishonesty
  • Business income loss
  • Personal injury/wrongful death claims
  • Loss of income/earnings
  • Fraud
  • Expert testimony

We also offer proactive services in the areas of fraud protection and recovery of assets. Our preventive services give management the peace of mind that their business is protected.

We feel every business should have a formal plan in place to combat fraud. In developing this plan, the professionals at Kernutt Stokes work with business owners to implement controls that detect and deter fraud within their businesses.

Our services include:

  • Identifying fraudulent activity
  • Determining the potential for financial loss
  • Developing and implementing preventative measures to guard against possible fraud

Please don’t hesitate to contact us with questions or to discuss how our forensic accounting team can assist you.