In order for an organization to consistently and effectively process accounting data, and generate financial statements and reports, there must be a well-established process in place. Central to this process is a “road map” that allows for the ongoing treatment and reporting of information, based on GAAP and management needs. Written accounting procedures help an organization communicate how transactions should be recorded and ensure that information is captured and processed efficiently for future use by management and stakeholders in making informed decisions.

MFR will guide your organization in determining and then implementing the types of procedures that may be needed.

Internal Controls

When your business depends on the predictability of a particular outcome or relies on staff to act in a certain manner, internal controls are of the utmost importance. A good internal-control system helps direct, monitor and measure an organization’s resources – financial, human, organizational and beyond. In addition, internal controls are critical in the detection of fraud, the reliability of financial reporting, the executive decision-making process and the effective use of resources.

MFR can help your organization understand current internal controls, test them as needed and address any gaps that may exist.

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