Examples of Controls to Reduce Business Risks

Set up firewalls
Develop a formal and rigorous new product testing program
Develop an approach for legally gathering information about competitor's plans and practices (or spy)
Develop contingency plans
Thoroughly test the website before going live
Establish a relationship with multiple companies capable of providing raw materials
Create a balanced set of performance measures that motivates the desired behavior
Count the physical inventory on hand to reconcile with accounting records
Segregate duties so the same employee does not have physical custody and the accounting responsibility of an asset
Create password-protected barriers
Implement a rigorous budget review process
Create a report that tracks key metrics related to compliance with the laws

	Created by epedersen1 over 11 years ago

Basic Accounting Note on Managerial Accounting, created by epedersen1 on 20/07/2013.