Looking beyond the financial statements to reduce risk

Enhanced internal controls can reduce risk and the benefits for private companies – during good times and bad – can be even more significant.

In our latest Let’s Talk article, Sal Bianco, a partner in our Private Company Services group, suggests “internal controls get to the heart of knowing how your business is being run” and recommends several key areas for owners and leaders of private companies to consider when reviewing their internal controls.

While the vast range of internal controls can sound daunting, the good news is that many effective controls are neither expensive nor time-consuming to put in place. The key, Bianco suggests, is for private companies to remain flexible: “Review the major risks facing your business, and then see what kind of controls are feasible to put in place— now and as the company grows.”

Visit the Let’s Talk page to read the full article.