Internal Control Consulting for Financial Reporting

If your financial reports are the story your stakeholders read, internal controls are the lock on the door and the receipt in the file. Internal control assessment consulting evaluates whether those controls actually work in practice, not just whether they exist in a policy binder.


Strong controls matter for fraud risk, clean audits, and confidence in your numbers. Public companies, nonprofits, healthcare providers, and financial institutions all face pressure to prove funds were handled properly. Turning Numbers serves as an internal control consultant that identifies control gaps, explains them in plain language, and helps organizations fix issues before they become losses or audit surprises.

Call: 1-866-825-0342


What Internal Control Assessment Consulting Covers

Internal control assessment consulting reviews the people, processes, and systems that protect cash, data, and financial reporting. This includes approvals, access rights, reconciliations, segregation of duties, and who can create or change vendor, payroll, or journal entry information.


An assessment is different from an annual audit. An audit provides an opinion on financial statements, while an internal controls assessment looks under the hood to identify where controls may fail. It is also separate from day-to-day accounting, which remains the responsibility of your team.



Effective engagements use risk-based scoping, starting with the areas most likely to cause significant loss, reporting errors, or compliance problems.

Common Internal Control Risk Areas

Across organizations, internal control consultants frequently identify risk in:


  • Revenue recognition and billing


  • Cash handling and bank reconciliations


  • Vendor setup, changes, and payments


  • Payroll processing and access


  • Journal entries and manual adjustments


  • System access and user permissions



  • Grant, donor, or restricted fund compliance


Assessing these areas allows us to identify risks early, especially where responsibilities overlap, controls are informal, or documentation is inconsistent.

Internal Control Over Financial Reporting Consulting

Internal control over financial reporting consulting strengthens the monthly close and reporting process.



Practical controls include timely reconciliations, documented review sign-offs, approval limits, saved evidence, and segregation of duties, even in lean teams.


When controls operate consistently:

  • Financial statements are easier to defend
  • Audit requests are easier to respond to
  • The close process becomes predictable rather than reactive

How Turning Numbers Delivers Internal Controls Consulting

Turning Numbers brings a forensic mindset to internal controls consulting because fraud and reporting errors often hide inside normal routines. Work begins with understanding how your organization actually operates, then mapping key workflows such as order-to-cash and procure-to-pay.


Controls are tested based on what is happening in practice, not what policies say should happen. Risks are rated based on likelihood and impact, and findings are reported in leadership-ready language that connects gaps to real outcomes such as theft risk, reporting errors, or compliance exposure.



Recommendations are tailored for real-world teams where roles overlap, so fixes are practical and adopted.

What You Get From Internal Control Consulting Services

Internal control consulting services typically deliver:


  • An internal control assessment report outlining gaps, risks, recommended fixes, owners, and timing


  • A prioritized remediation plan aligned to your systems and staffing


  • Support responding to audit or regulator questions



  • Fraud awareness or prevention training to strengthen day-to-day vigilance


Organizations often engage internal control assessment consulting during periods of change, such as rapid growth, system implementations, audit findings, leadership transitions, mergers, grant compliance pressure, or recurring close issues.

Get Internal Controls That Protect and Support Your Business

Internal controls should not slow you down. They should protect assets, support accurate reporting, and reduce surprises during audits.



If you need internal control assessment consulting that reduces fraud risk and improves confidence in your financial reporting, contact Turning Numbers for a confidential consultation. Engagements can begin with a focused risk assessment and expand as needed.