What is internal controls optimization?
Internal Controls Optimization (ICO) is focused on improving controls within the accounting department to reduce the risk of mistakes or processing errors. Many times it takes a serious mistake, or even fraud, for owners and management to implement the internal controls that are necessary to protect the highly valuable information and assets of your company or organization. Without the proper internal controls, there is a real and increased risk that either intentional or unintentional accounting errors may result in a significant financial loss, or worst case scenario, total loss of the company or organization.