Business Guide
Internal Controls Every Business Should Have
A starter set of controls that prevent fraud and error without slowing you down.
Mugo K Risk Advisory Team 2026-03-22 6 min read
Controls don't need to be bureaucratic to be effective. A small set of well-placed checks closes most of the exposure a growing business faces.
Key insights
- Segregation of duties — the person who approves a payment shouldn't be the same person who initiates it.
- Every payment above a defined threshold should require a second sign-off.
- Bank and M-Pesa reconciliations should be reviewed by someone other than the preparer.
- Access to accounting systems should be role-based, not shared logins.
Compliance tips
- Start with payments and reconciliations — they carry the highest fraud risk relative to effort required to control them.
- Review controls annually as the business grows; what worked at 5 staff often breaks at 25.
Need help with this in your business?
Talk to us about internal controls review and we'll scope what it takes for your situation.
