Article | WICPA's The Bottom Line

Maintaining effective internal controls in a compliance-driven world

Sept. 6, 2023 · Authored by Chad Schaefer, Monica Weggeman

Internal controls is an ongoing process that requires regular review and adjustments to maintain compliance with laws and regulations, organizational needs and changes in the business landscape. These controls are important to help safeguard assets, promote accurate financial reporting, mitigate risks and encourage adherence to organizational standards.  

So how can an organization implement and maintain effective internal controls? Baker Tilly’s risk advisory specialists Chad Schaefer and Monica Weggeman discuss five common issues faced by organizations and provide leading practices to support a healthy control environment in WICPA’s The Bottom Line publication.