How To Hire An Internal Control Consultant

What 2016 New Year resolutions are your making for your company? Consider hiring an internal control consultant to help you reach your goals. 

What is an Internal Control Consultant?

As a company insider, you may not be objective about your company's performance, weaknesses or areas of need. You also may not have the resources or authority necessary to make successful long-term changes. 

An internal control consultant will look at your company from the outside and view your situation and needs from an objective point of view. He or she will also walk with you as you implement plans for change. 

A consultant can help you perform tasks related to: 

  • Research and Development
  • Information Technology 
  • Wage and Salary Administration
  • Sales and Marketing
  • Product Distribution
  • Manufacturing 
  • Financial Planning and Control
  • Human Resources Management and Labor Relations
  • Administration 
  • Organizational Planning and Development 
  • Strategic and Business Planning 
  • Incentive Compensation

How do you Hire Internal Control Consultant?

Your attorney, accountant or banker may be able to suggest possible consultant's for your particular business and needs. Check out your trade organization and the Institute of Management Consultants USA for referrals, too. 

During the hiring phase, look for candidates who are experienced in handing cases like yours. Their references should back up their track record and experience claims. Additionally, ask if the consultant handles situations with honesty and tact. You also want to find out how well the consultant works with others, if he or she is a team player and whether or not the consultant can build rapport with you and your team. 

How Much will an Internal Control Consultant Charge?

The fees for assistance vary based on the task and the consultant's knowledge, skill and experience. Typically, a consultant whose sole job is advisory in nature will charge a flat fee per hour or job. A consultant who's doing an extensive project for you will often require a retainer and regular payments throughout the project or as goals are met. Before any specific discussions take place, agree on a fee schedule and get the arrangement in writing. 

When you need additional knowledge, skill, authority or ability to make changes that last, hire an internal control consultant. This person can help your company become more successful, overcome a current problem or assist in making essential changes. Consider hiring an internal control consultant this year as you implement your 2016 New Year resolutions. 

Need insurance for You, Your Family or Your Business?
We can match you to a qualified, local insurance expert!
Further Reading
You face risks every day in real life and must decide if you'll lock your house doors or buckle your seat belt. Your small business faces risks, too. Answer the question why use a risk management consultant as you successfully navigate your business ...
Every small business faces financial risks. However, you can lower your risks and improve your chances of success when you become aware of several external and internal financial risk factors. External Risks Economic Risks Economic downturns...
Security cameras in the workplace can help employers stave off fraudulent Workers Compensation claims - as long as the companies using them are careful not to violate employees' privacy. CEC Entertainment Inc. (Irving, TX), which operates Chuck E....
An industry seminar on fraud risk, prevention and response, found 778 internal fraud cases in 2012 (more than two a day!). These scams included fake billing, corruption, and expense reimbursement. Although the companies affected suffered minimal lo...
According to the U.S. Commerce Department, employee crime costs American businesses more than $50 billion a year - that's "billion with a 'B" - and three out of four employees have stolen from their employers at least once. To help prevent a fox f...