We identify your highest-risk processes and map existing controls against them. This creates a clear picture of where controls exist, where gaps remain, and where to focus testing effort.
Internal Controls
Systematic evaluation of your policies, procedures, and operations to manage risk, safeguard assets, and ensure reliable financial reporting.
When Controls Fall Short
Growing businesses outgrow informal processes. When stakeholders start asking questions, you need documented controls that stand up to scrutiny
Investor & Lender Scrutiny
A potential investor, lender, or board member has questioned your informal processes. For growth to continue, a more structured and formal system of controls is required to satisfy stakeholders.
Fraud & Error Exposure
Without documented controls, you cannot verify that assets are safeguarded and financial reporting is reliable. Weaknesses leave the door open to fraud, errors, and material misstatements.
Regulatory Compliance Gaps
Public companies need SOX compliance. Nonprofits receiving federal funds need Single Audit Act compliance. Without tested internal controls, you risk findings, penalties, and loss of funding.
Outgrown Internal Processes
The systems that worked when you were smaller no longer scale. Manual workarounds, informal approvals, and undocumented procedures create risk as your organization grows in complexity.
How WhippleWood Makes the Difference
Extensive experience evaluating systems of internal control for growing businesses, public companies, and nonprofits.
Systematic Control Review
We follow a structured methodology to identify control weaknesses, test operating effectiveness, and deliver actionable recommendations for your financial reporting environment.
SOX & Single Audit Expertise
We have evaluated and implemented control systems for public companies complying with Sarbanes-Oxley and larger nonprofits meeting Single Audit Act requirements.
Practical Recommendations
Our deliverables identify weaknesses, test for operating effectiveness, and provide clear recommendations for strengthening controls to prevent fraud, errors, and misstatements.
Integrated Firm Expertise
Our individual experts in tax, financial statements, and advisory work together as a unified team to evaluate controls across every functional area of your business.
Awards & Recognition
Comprehensive Internal Control Services
We test whether controls are properly designed to mitigate identified risks and whether they operate effectively in practice. Testing includes walkthroughs, sample testing, and inquiry of key personnel.
For public companies subject to Sarbanes-Oxley or nonprofits subject to Single Audit Act requirements, we evaluate controls against the specific frameworks and standards that apply to your organization.
We evaluate segregation of duties, authorization procedures, physical safeguards, and monitoring controls designed to prevent and detect fraud. We identify vulnerabilities and recommend practical improvements.
Beyond identifying deficiencies, we help design improved controls, develop documentation, train your staff, and perform follow-up testing to verify remediation effectiveness.
From Assessment to Stronger Controls
Our internal control review follows a systematic process that identifies weaknesses, tests effectiveness, and delivers practical recommendations.
Understanding Your Environment
We review your existing policies, procedures, and key processes. We identify high-risk areas and develop a testing plan focused on the controls that matter most to your business.
Testing & Evaluation
We test control design and operating effectiveness, identify deficiencies, and assess the potential impact of each weakness on your financial reporting and operations.
Report & Remediation
We deliver a detailed findings report with prioritized recommendations. We walk your team through the results and help implement improvements.
Common Questions About Internal Control Reviews
Typically when your organization is outgrowing older or informal systems and needs to formalize processes. Growing entities often reach a point where manual workarounds create unacceptable risk.
It also becomes necessary when an investor, lender, or board member questions your existing processes. For growth to continue, a more structured and formal system of controls is required.
A systematic evaluation of your policies, procedures, and operations. We identify weaknesses, test operating effectiveness, and recommend improvements to prevent fraud and errors.
You receive a prioritized findings report with actionable remediation steps and a roadmap for strengthening your control environment.
Yes. We have evaluated and implemented control systems for public companies complying with Sarbanes-Oxley requirements. We also support larger nonprofits meeting Single Audit Act compliance requirements.
Our team has over a decade of direct experience in control testing across both public and private entities.
Absolutely. Nonprofits receiving federal funds need controls that satisfy Single Audit Act requirements. We evaluate your grant management controls and help implement improvements that protect your funding eligibility.
We also help design improved control documentation and support your team through implementation.
The timeline depends on the size of the organization and the scope of testing. A focused review of key controls can be completed in a few weeks, while a comprehensive evaluation of a larger organization may take longer.
We design engagements to minimize disruption to your team while delivering thorough results.
Yes. We help design improved controls, develop documentation, and support your team through implementation. We can also perform follow-up testing to verify that remediation steps are working effectively.
Our goal is not just to identify problems but to help you build a stronger control environment for the long term.
Ready to Strengthen Your Controls?
Whether you need to satisfy investor requirements, meet regulatory compliance, or formalize processes for growth — WhippleWood delivers a thorough internal control review with actionable results.
Questions? info@whipplewood.com | 303-989-7600
