VITALICS INTERNAL CONTROL POLICIES AND PROCEDURES
Vitalics is a internal control system of forms for bookkeeping and accounting.
Vitalics is a simple to use system of internal control forms for smaller businesses. Vitalics was created to help provide the solution for the missing link when there is a lack of job segregation. Vitalics creates accountability and reassurance to the managers, owners, partners, and bookkeeping staff.
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VITALICS CONTROL FORM FEATURES
VITALICS CONTROL CATEGORIES
Categories include Accounts Payable, Accounts Receivable, Assets, Cash, Financial Reporting, Human Resource and Payroll, Purchasing and Inventory, Notes and Memos, Corporate Minutes and your policy and procedure manual.
VITALICS SIMPLE TO CUSTOMIZE
Your Vitalics forms are easy to use and customize in your Word, Excel and Adobe software. The forms are also compatible with MAC.
OCCUPATIONAL FRAUD STATISTICS AND FRAUD SCHEME TYPES ACFE 2016 REPORT TO THE NATIONS
Smaller organizations continue to rank highest in occupational fraud frequency compared to larger businesses. The average loss was $150,000 per fraud occurrence.
Corruption is the most common method of fraud in small businesses with fewer than 100 employees while a billing scheme is a close second.
Primary internal control weaknesses showed that “lack of internal controls” were most prominently present in fraud case studies while lack of management review was the next common weakness.