Critical Questions Regarding Internal Controls

When fraud strikes manufacturers, the effects can be devastating. A recent report shows the median fraud loss in the manufacturing sector was $240,000 — nearly double the median fraud loss for all industries ($130,000). Internal controls are a company‚Äôs first line of defense in preventing and detecting fraudulent activity.

OMA Connections Partner MCM CPAs & Advisors has assembled this list of questions to help you evaluate whether your control system is strong enough to protect against theft or misstatement. 11/13/2019