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Internal Control Questionnaire
Free internal control questionnaire template used by auditors or finance teams to assess the strength of a company's financial controls.
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This free internal control questionnaire covers Segregation of Duties, Authorization Controls, Recordkeeping, Access Controls, Summary of Weaknesses Identified with 4 clearly marked [placeholder] fields to fill in — built for small businesses and individuals documenting a loan or expense putting financial terms in writing so both sides have a clear, shared record. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.
Internal Control Questionnaire
Company: [Company Name] · Area Reviewed: [e.g. Cash Disbursements, Payroll, Revenue] · Date: [Date]
Segregation of Duties
| Question | Yes | No | N/A | Notes |
|---|---|---|---|---|
| Is the person who approves payments different from the person who processes them? | ||||
| Is the person who reconciles bank statements independent from cash handling? |
Authorization Controls
| Question | Yes | No | N/A | Notes |
|---|---|---|---|---|
| Are purchases above a set threshold subject to a second approval? | ||||
| Is there a documented approval hierarchy for significant transactions? |
Recordkeeping
| Question | Yes | No | N/A | Notes |
|---|---|---|---|---|
| Are financial records reconciled on a regular schedule? | ||||
| Are supporting documents retained per the records retention policy? |
Access Controls
| Question | Yes | No | N/A | Notes |
|---|---|---|---|---|
| Is access to accounting systems restricted based on role? |
Summary of Weaknesses Identified
[List any "No" answers and the associated risk.]
Completed by: ______________________ Date: ____________
*A "No" answer on segregation of duties is the finding auditors flag most often — it's the classic control gap that lets a single person both create and approve a fraudulent transaction without anyone else noticing.*
Edit directly in the box above. Download PDF anytime — the docstoc.io footer is always included and cannot be removed.
What's included
- Edit online — click the document, fill in placeholders, download a PDF
- 5 standard sections: Segregation of Duties, Authorization Controls, Recordkeeping, Access Controls, Summary of Weaknesses Identified
- 4 clearly marked [placeholder] fields for quick personalizing
- Free to use — no account or signup required
- Fully editable — adjust any clause to match your actual situation
- Includes a signature block, ready to print or sign digitally
- Fixed docstoc.io footer on every PDF (not removable)
Who this template is for
Freelancers & solo founders
Handling routine business paperwork without commissioning custom legal drafting for every document.
Small businesses
Standardizing recurring documents — leases, agreements, notices — across a growing operation.
Anyone reviewing before signing
Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.
Informal lending & reimbursements
Money changing hands between people or a business and its team, without a bank's paperwork.
FAQ
Is this internal control questionnaire template really free?
Yes. Like every template in docstoc's library, this internal control questionnaire is free to use, with no account or signup needed to view, edit, or download it.
What does this internal control questionnaire cover?
This finance template includes Segregation of Duties, Authorization Controls, Recordkeeping, Access Controls. Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.
Is this legal advice?
No. Financial documents like this can touch usury limits, lending disclosure rules, or tax treatment that vary by state and by amount — details a general template can't know. Have an accountant or attorney review the actual terms before money changes hands based on this.
Can I edit the wording?
Yes — edit directly on the page, adjust any section or clause, and re-fill the 4 placeholder fields to match your situation before downloading a PDF. It's a starting structure, not a rigid script.
Where can I find more free templates like this?
Browse more free finance and related document templates in the docstoc library at /document-templates/.
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