eBook - Finance Control Risk Checklist

As a business grows, finance activities often become more complex. Payments, collections, vendor records, claims, reimbursements, banking access and accounting system access may be handled by different people across the business.

Without proper checks and controls, these areas can create unnecessary risk. In some cases, weak controls may lead to payment errors, unauthorised transactions, misuse of access, financial leakage or even internal fraud.

The Finance Control Risk Checklist is designed to help medium enterprise owners review key areas of their finance function and identify where stronger oversight may be needed.

This resource does not assume wrongdoing. Instead, it helps business owners ask the right questions, spot control gaps early and take practical steps to protect the business.

Additional Info

Inside this checklist, business owners will be able to assess:

• Whether payment approvals are properly reviewed

• Whether supplier and customer records are regularly checked

• Whether changes to bank details are independently verified

• Whether claims and reimbursements are supported with proper documentation

• Whether bank access and accounting system access are assigned appropriately

• Whether one person has too much control over key finance processes

• Whether duties are properly separated between preparation, approval and payment

• Whether unusual transactions are reviewed on a timely basis

• Whether finance records are monitored for inconsistencies

• Whether an independent review may be useful to strengthen internal controls

Best suited for medium enterprise owners who want to reduce financial risk, improve oversight and protect the business from preventable financial losses.