An operational review is a tool that can be used to highlight areas of your business that need attention. Generally, management may be aware of a problem, but not certain of the source or details of the concern. By using a series of interviews, our staff professionals search for waste, inefficiency and other red flags that affect the overall profitability of a firm. Our operational reviews can focus solely on accounting functions or the entire business operation. Often times, management perceives an “accounting problem,” but the source of he concern may lie outside of the accounting department. An operational review will help reveal these underlying issues.
A common concern in business is whether adequate checks and balances are in place to assure that transactions are properly recorded. In the early stages of a business’s life cycle, a business owner is often able to keep a watchful eye. As a business grows, adding new employees, products, and services, it becomes increasingly difficult to maintain that same level of personal oversight.
On behalf of a significant number of companies in a variety of sectors, Chugh CPAs, LLP’s team has documented, evaluated, and strengthened internal controls. Bringing to each challenge a wealth of industry and public accounting experience, Chugh CPAs, LLP’s professionals apply “best practices” to the development of an organization’s policies and procedures. The resulting system of checks and balances protects a company’s assets so that owners can forge ahead with confidence.
At the completion of an operational review, you will receive a report of our findings and recommendations, including a summary of answers to our review questionnaire. Of course, successful reviews depend on the adoption of cost-savings or profit-creating recommendations. Our firm can also assist you in the implementation of these recommendations.