An internal control checklist helps to ensure that all employees take responsibility for achieving business objectives. An effective internal control checklist can be implemented in a variety of ways. It can be used as a guide to ensure that controls are properly maintained and that the procedures followed are adequate to achieve business objectives. When properly implemented, an internal control checklist has the following advantages:
There are different ways to implement an internal control checklist, but the preferred method is to prepare the checklist in a Word file format. Word documents are widely accepted throughout the business community as being the most effective way of preparing a document that can be read by a variety of people. A Word document can be opened using most, Word processing applications.
An internal control checklist sample can be prepared in Word by first opening it in the default application. If the file format has been changed, a second copy can be restored in the default program to match the earlier version. Using the restore function, the entire file format can be changed at one time to match the previous version.
The Word document is then prepared according to the particular checklist template that is to be used. Most companies use the “checklists” feature of Word. The checklists feature in Word allows a user to assemble a list of items to be checked off or reviewed. Submission of the PDF document to the system or to a printer automatically creates a PDF file that can be checked against the original PDF file.
In addition, Word processing capabilities provide additional functions to aid in the preparation of checklists. For instance, when using Word to prepare and review employee performance evaluations, a “change to dashboard” option in the drop down menu of the main view toolbar of the word application provides options for reviewing individual employee grades. Similarly, the inspector view in the word application can be accessed by selecting the “inspector” checkbox. This will open a window where the inspector can record the results of an employee visual inspection.
Many companies see checklist templates as an important way to keep control and record company tasks in an easily usable format. In addition, they provide a convenient way for presenting company objectives to employees. Employees can also look at checklists in their work spaces to see what tasks they need to accomplish in the working time frame. Company supervisors can use checklists to keep control and record company tasks in an easily usable format.