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Ext. PublicationChapter 1: Treasury and Cash Management
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Structuring Effective Controls Over the Five Primary Transaction Cycles
This is one part of a series designed to help organizations identify risks and improve internal controls over financial reporting. Click here to access the rest of the series, including a set of five downloadable tools organizations can use to help assess their own controls.
Internal control over financial reporting (ICFR) is an integral element in every financial leader’s toolbox. Having the right controls, properly implemented, allows leaders to ensure that they have timely, accurate and complete financial information to make informed decisions. Weaver designed this guide as a roadmap to help any organization, regardless of industry, understand these cycles, the specific processes and subprocesses you need, and controls you can implement to manage your financial risks. It will also walk you through a step-by-step analysis of financial and operational risk and control considerations for the five primary cycles.
The five primary cycles are universal, in that every organization has them. However, every organization is unique in its exact processes and needs. As you use this guide and the downloadable risk-control matrices, you will need to examine your own processes to customize controls for your operations, while eliminating what is unnecessary.
What’s Inside?
This chapter, Treasury and Cash Management, describes the processes, risks and recommended controls associated with managing your organization’s treasury function, bank accounts and investments.
Download the corresponding Risk–Control Matrix, which includes common processes, risks and controls that you can customize to your organization’s specific needs.
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Download the Complete Set
In addition to this chapter, the complete Structuring Effective Controls over the Five Primary Transaction Cycles includes an overview and four additional chapters with information about the other transaction cycles. It also includes illustrative risk–control matrices for all of the five cycles that you can use to help identify and begin closing gaps in your own controls.
