Financial Reporting Internal Control Forms


Accounting controls over financial reporting is a crucial part of running a profitable business. Using specific control forms for financial reporting and banking review will lower your fraud risks and keep the earned profits within your organization. The Vitalics Financial Reporting Internal Control Forms are easy to customize for your small business.

Financial Reporting Internal Control Forms

Vitalics Financial Reporting Internal Control Forms

Includes 13 Financial Reporting Internal Control Forms
Easy to customize in Word, Excel and Adobe
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Electronic Download     $29.00

Vitalics Internal Control Forms Bundle

Includes Over 145 Control Forms
Internal Control Categories
Vitalics Fraud Prevention and Internal Control Workbook
Easy to customize in Word, Excel and Adobe
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Electronic Download   $169.00 – On sale – $139.00



Vitalics is a small business internal control program that provides all the tools to easily set up and implement your company’s controls.  Vitalics contains over 140 already created yet customizable internal control forms, checklists and templates and a fraud prevention and internal control workbook.  Vitalics forms are also available separately.   Whether you are a business owner, office manager, bookkeeper or accountant, Vitalics will provide you the reassurance that your work or your company assets are protected.


Journal entries are an easy way to hide embezzlement. The reason is they lack review or substantiation and most business owners accept a journal entry at face value as the “bookkeeper or accountant” knows what they are doing and are fixing errors or providing tax benefits to the company’s income. Financial reporting controls are essential to safeguarding your business from fraud and embezzlement.


Types of Business Schemes

An illegal gratuity scheme is similar to bribery except that there is no intent to influence a particular business decision, but to reward someone for making a favorable decision.

Financial statement fraud is the intentional misstatement of financial reports by omitting over over stating critical facts or disclosures, misstating amounts, or misapplying GAAP.

Collusion is a fraud scheme perpetrated by two or more employees or outside parties, each of whose job responsiblities is necessary to complete the fraud.

An overstatement of asset fraud is a financial statement fraud involving the recording of assets and amounts higher than they should be.

Helpful suggestions

Setting a deadline for financial reports
Make sure your financial reports are completed and provided in a timely manner. Depending on your business size, the 15th to 20th of the month is ideal.

Limited journal entries
If your bookkeeper or accountant creates multiple journal entries, make sure you REQUIRE back-up documentation to substantiate those entries. Journal entries should be limited to year end from your CPA.

Condensing Accounting Cumputer Data
Make sure you do not allow anyone to condense your computer data without your knowledge and without a full back-up that can be restored. Condensing data converts prior year records into a journal entry and do not allow in-depth review especially in audits.

Reviewing your financial reports
Many small business owners are too busy to review their records. This is a costly mistake. Make sure you review and sign off on your records and if you don’t understand how to read a Balance Sheet and P&L ask your CPA to explain it to you!