• minimizing the risk of check fraud
• minimizing employee theft by improving internal controls
• minimizing bank fees (as overpaying for services is taking cash right out of your pocket), and
• using the proper tools to improve the gathering of information and enhance cash flows.

The following questionnaire, comprised of three specific and one general section, is designed to warn you of potential weaknesses in your company’s present cash and treasury management system.

Once you have identified areas requiring improvement, please contact us so that a more in-depth analysis can be conducted and effective solutions perscribed.

Step I
Complete the following questionnaire.

Part 1 - Check Fraud
Check fraud is now a $13 billion a year "business" (growing at 25% annually). It is 16 times more likely to occur than ATM theft, credit card fraud or bank robberies combined.

1. Are you aware that under the latest revisions to the Uniform Commercial Code, potential liability has shifted away from banks and more towards companies (and banks have positioned themselves to take advantage of this change)?		Yes No
2. Do you review your bank statements and reconcile your bank accounts every month?		Yes No
3. Do you use positive pay or reverse positive pay on all disbursement accounts?		Yes No
4. Do you use controlled check stock (that is, checks must be ordered in cooperation with your bank) for your disbursement accounts?		Yes No
5. Do you use special check stock with watermarks, invisible pantographs (that appear if checks are copied) or that is made with chemical reactive paper?		Yes No
6. Have you reviewed your latest bank agreements to insure that the length of time to report discrepancies has not been changed by your bank and reduced to an unreasonably short time frame?		Yes No
7. Are check stock and facsimile signature plates secured under lock and key?		Yes No
8. Do you conduct background checks on all newly hired employees?		Yes No

Part 2 - Internal Controls
Separation of financial responsibilities is necessary to insure that cash is safeguarded properly.

1. Are all bank statements reviewed and reconciled in a timely manner?		Yes No
2. Are bank statements reviewed and reconciled by someone not involved in the cash receipt or cash disbursement functions?		Yes No
3. Does someone not involved in the check preparation process sign checks?		Yes No
4. Are checks returned after signature to the check preparer for mailing?		Yes No
5. Are incoming checks restrictively endorsed at the point of receipt (to prevent their being deposited into bank accounts other than those of your company)?		Yes No
6. Are all check numbers accounted for (that is, by use of a check log)?		Yes No
7. Do you require senior level approvals for unusual discounts or bad debt write-offs?		Yes No

Part 3 - Bank Fees
Are you overpaying for services?

1. Do you negotiate fees annually with your banks?		Yes No
2. Do you review your account analysis every month for errors in pricing, units used and calculations?		Yes No
3. Have you determined the best method of compensating your banks (that is, paying in fees or compensating balances)?		Yes No
4. Are all positive balances utilized (that is, either carry-forwarded to the next period and/or offset against other accounts)?		Yes No
5. Do you periodically review your account analysis to insure that you are not being charged for services either never used or that you have stopped using?		Yes No
6. Are you taking advantage of all automated services (either by computer or touch tone phone) offered by your banks (since automated services are cheaper than manual processed services)?		Yes No

Part 4 - Other Issues

1. Have you investigated using the Internet for processing bank transactions and services in order to reduce costs and improve flexibility?		Yes No
2. Do you monitor your cash balances daily in order to invest excess cash or reduce short-term borrowing?		Yes No
3. Do you have a formal investment policy so that excess cash is invested according to your risk tolerance?		Yes No
4. Have you considered using the Internet and e-commerce to exchange information with trading partners so that you will be paid quicker?		Yes No
5. Do you prepare cash forecasts (both short and long-term) in order to efficiently manage your company’s cash position?		Yes No
6. If applicable to your business, do you have a formal policy to handle foreign exchange exposure in order to minimize risk?		Yes No

Step II
Review your answers to the above questionnaire. "No" answers indicate areas of potential weaknesses ("no" answers may be acceptable depending on the size and makeup of your company).


Step III
Contact us or submit this form with your additional comments for an in-depth analysis of your cash and treasury management system and for our advice and recommendations on ways to correct any weaknesses.