Controls that worked for a small team may become unreliable as a business grows. The answer is not necessarily more approvals; it is clearer ownership, appropriate separation of duties and evidence that important checks occurred.
Prioritise material risks
Focus first on cash, revenue, supplier payments, payroll, access to systems and financial reporting. Map where an error or unauthorised action could occur and identify the control intended to prevent or detect it.
Separate incompatible responsibilities
Where possible, the person creating a supplier or payment should not be the only person approving it. When teams are small, management review and exception reporting can provide compensating oversight.
Control system access
Access should reflect current roles and be removed promptly when responsibilities change. Periodic reviews help identify unnecessary administrator rights and inactive users.
Retain evidence
A control is easier to rely on when the review, approval and follow-up are visible. Digital workflows can capture this evidence without adding excessive administration.
Scalable controls protect the business while allowing teams to work efficiently and management to delegate with confidence.
This article provides general information and is not a substitute for advice based on your specific circumstances.
