Internal Control Report Template


Internal control forms are key to providing the missing link for the lack of job segregation. They are commonly used for work accountability and authorization so managers, owners and employees can have assurance that the records are accurate, reviewed and approved. Make sure your business is lowering it’s risks by writing an internal control program tailored to its business operation. Using the Vitalics internal control report template will make it easier to set up and customize your own control procedures.


Easy to Customize in Word, Excel and Adobe

Your Vitalics small business internal control forms are created as protected documents that you can add content to, yet easy to update the status of “protection” in order to customize your forms using Word, Excel and Adobe software. The forms are also compatible with MAC.

Instant Download through the Members Dashboard

Complete access to your internal control report templates through the Vitalics members dashboard. Download one form at a time, or, all the forms including in the “Internal Control Reports” category in a zip file. Vitalics does not require a monthly membership. When you purchase our forms, you have full and instant access to use them for your business.

Internal Controls SIMPLIFIED

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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 145 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.

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The average frequency of Anti-Fraud controls for small businesses with management review was 33.6% compared to larger companies of 73.8%? The primary internal control weakness in fraud cases was the complete lack of internal controls. According to the ACFE 2014’s report to the nation the small businesses lack of internal controls was more than 41% of cases. Further, at least one fifth of those cases could have been prevented if managers had completed a sufficient job in reviewing transactions, accounts and processes. The use of internal control forms and procedures will reduce fraud within a business organization.


Types of Schemes in Purchasing

Collusion is a secret or illegal cooperation and or conspiracy in order to cheat or deceive others for a benefit.

Bribery is the offering, giving, receiving, or soliciting anything of value to influence an official act.

Conflicts of Interest is fraud in which employees, managers or executives put their personal interest above the company’s interest. Usually resulting in an adverse affect on the organization.

Economic extortion scheme involves an employee demanding payment from a vendor in order to make or influence a decision in that vendor’s favor.

Helpful suggestions

Budget your Internal Control Costs
If the average small business loses at least 5% of their revenues annually to fraud, budgeting internal control review, maintenance and implementation as you would your tax preparation and accounting fees will save you hundreds of thousands in lost revenue from fraud.

Hire an Outside Consultant – CFE, CIA, CPA
If internal controls are over your head and you don’t have the time hire an outside consultant to protect your assets. It is a lot less expensive than the average cost of a fraud examination which can run at least $15,000 before lawyers are involved.

Train your Employees on Fraud Prevention
Fraud isn’t just employee embezzlement – customer fraud is high along with cyber security issues and identity theft. Make sure your internal control procedures include all aspects of asset protection against your organization. Training your employees and putting guidelines on computers, confidential documentation destruction, storage and even customer shipments will help them know what to look for and prevent as well.

Review your Records!
If you do not review your records you will never know what is going on within your books. QuickBooks reports can be manipulated so if you think that just because your bookkeeper provided you an income statement and balance sheet it doesn’t mean what is reported is the truth. You need to know where those numbers came from, specifically your bank account. Was the deposit really $50,000 as QuickBooks reads or was a journal entry created to manipulate that deposit and what cleared the bank was only $42,000?

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Internal Control Program Reports

  • Internal Control Reports

      Company organizational chart

      Internal control program detailed

      Internal control program basic

      Risk assessment form

      The Vitalics Fraud Prevention and Internal Control Workbook


  • Vitalics Internal Control Forms Bundle List

  • Internal Control Reports

    Company Organizational Chart

    Internal Control Program Detailed

    Internal Control Program Basic

    Risk Assessment Form

      The Vitalics Fraud Prevention and Internal Control Workbook

    Notes Memos and Corporate Forms

    Accounting Work in Progress Form


    Minutes of the Meeting Log Sheet

    Minutes of the Meeting Template

    Accounts Payable Internal Control Forms List

      Accounts Payable Check Run Form

      Accounts Payable Checklist 12 Month

      Accounts Payable Checklist

      Accounts Payable Reconciliation Form

      Accounts Payable Month End Checklist

      Accounts Payable Month End Checklist 12 Month

      Approved Vendor List Form

    Authorized Signature Stamp Approval Form

      Automatic Payment Update Form

      Automatic Payment Form

      Automatic Payment List

      Change in Vendor Form

      Check Request Form

      Credit Card Reconciliation Checklist 12 Month

      Credit Card Reconciliation Checklist

      Current Vendor Review Checklist 12 Month

      Current Vendor Review Checklist

    Current Vendor Detail Listing

      Employee Credit Card Request Form

      Expense Reimbursement Checklist 12 Month

      Expense Reimbursement Checklist

      Expense Reimbursement Form

    Expense Reimbursement Listing