Do You Have Your Internal Controls Under Control?

Featured as the cover story in the Journal of Construction Accounting and Taxation, Weaver’s Mark Lund, Partner-in-Charge of Construction Industry Services, outlines ways to safeguard assets and profit by implementing controls and oversight where weakness exist. 

• During periods of peak construction and significant backlog, you need good internal controls to safeguard your assets and hard-earned profits. That’s a given.  But what happens during an economic downturn, when personnel start turning over, or worse, when a pandemic occurs and your accounting department becomes lean?  It is easy to get distracted or to make compromises during such times.  And it is during such times that you can be vulnerable.

“Do you have your internal controls under control?”, Mark E. Lund, Journal of Construction Accounting and Taxation, September/October 2020. Copyright 2020. Thomson Reuters/Tax & Accounting.