Controllership: is it really important?

If your business has assets, you need to be thinking about internal controls.

One of the most important aspects of Finance and Controllership is the implementation of controls. Without proper controls, organizations can face a variety of risks, from financial mismanagement to operational inefficiencies.

Safeguarding assets

Controls help organizations to protect their assets. By implementing proper controls, organizations are able to safeguard their assets and ensure that they are used in a responsible manner.

Why do we need controls in our companies?

Controls help to ensure that all financial transactions are accurately recorded and reported, and that funds are properly managed and allocated. They also provide protection against potential fraud or mismanagement of funds. In addition, controls help to ensure that business processes and operations are followed correctly, and that resources are used in the most efficient manner.

“The more your business is growing, more solid controls are needed"

Controls also help to establish a culture of accountability within the organization. By having clear procedures in place, employees are more likely to take responsibility for their actions and be held accountable for their decisions. This can result in better decision making and greater fiscal responsibility.

Internal controls are essential for any organization looking to protect its financial and operational assets. They help to ensure accuracy and accountability, as well as provide a foundation for efficient and effective operations which help protect your bottom-line and grow.