Seven financial control risks to review
Practical questions that can reveal gaps in how money moves through your business.
Check the payment pathways
Review vendor setup, payroll changes, expense claims, and purchasing approvals. These are four different opportunities for unauthorized or inappropriate payments. Ask who can create a record, approve it, and release money. Separate those responsibilities where practical.
Check records and access
Asset misuse, misleading financial entries, and fraudulent payment instructions add three further risks. Reconcile records, review unusual adjustments, and independently verify changes to banking instructions using a known contact method. Protect system access with appropriate permissions and multifactor authentication.
Create a repeatable review
Document who reviews exceptions and how concerns are escalated. Small teams may need direct owner review when full separation of duties is impractical. Controls reduce risk; they do not eliminate it. Escalate suspected misconduct to qualified legal, accounting, or security professionals as appropriate.
Ask a question
Questions are reviewed by the team before publication. If approved, your first name and message appear below. Contact details remain private.