LUTZ BUSINESS INSIGHTS

 

DOES MY BUSINESS NEED A PHYSICAL SECURITY ASSESSMENT?

does my business need a physical security assessment?

ROBERT KEENAN, CHEIF information & RISK OFFICER

 

Every business owner is responsible for the physical security of the property, even if you are only renting. This relates to liability, loss prevention, and employee protection; all rolled into one. The safety of your building is determined by its structure, accessibility, maintenance, and security features. From someone slipping on the stairs to theft in the parking lot, your responsibility extends to a clear legal definition:

  1. Could you have reasonably foreseen the risk?
  2. What did the business owner do to reduce or prevent the risk?

If your property safety is incomplete or a recent incident has highlighted a security gap, a physical safety assessment is the first step to informed improvements. Consulting with an expert can ensure you are doing everything possible to keep the property and people safe.

 

What is a Physical Security Assessment?

A physical security assessment is a full review of your property’s safety against intruders, bad weather, and injury. It looks for any gaps in your property security so you can make improvements. In many ways, the security assessment is like an inspection, giving answers and recommending solutions without any obligation to decide right away.

Physical security starts at the physical level and extends upward to the electric control and monitoring systems. The electronic and security control centers are assessed for performance and efficiency. If weaknesses or gaps are identified, recommendations are offered to remedy the issues. A physical security assessment can protect you from both crime and liability cases because the potential risk on-premises has been minimized.

 

What Does it Cover or Evaluate?

Physical security assessments review the areas that need protection, and what measures are currently in place to protect them. The assessment will:

  • Check the physical security of your commercial property (inside and outside).
  • Review your policies and procedures to ensure you are in compliance and protected from liability.
  • Assess the security of your files and the proficiency to improve the performance of security measures.

 

Who Needs a Physical Risk Assessment?

Every business should have one completed at least every 12-18 months. From retail stores, schools, manufacturers, restaurants, and more, every business or organization can benefit from a physical risk assessment. Each property has assets and people to protect and should take the appropriate measures to safeguard them.

 

How Does a Physical Security Assessment Help My Business? What are the Benefits?

Every property should be kept safe. The items in your building should be protected from theft, and the people in your building should be safe from crime or an accident. Your premises should include clear paths, suitable lighting, and security surveillance. If you have inventory, it should be tightly protected. Your machinery should be under lock when put away for the night, and all on-site files should be secured.

When you have a physical security assessment, you gain insights into how your property is currently protected and how it could be safer. You hold the power to decide how to secure your property, starting with a complete overview of your security as it stands and the best ways to enhance it. 

 

How is a Physical Security Assessment Conducted?

A physical security expert will assess:

  • Physical security structures
  • Identification and access
  • Security procedures and personnel
  • History of crime and loss
  • Architectural security

 

How Do I Choose the Right Provider to Conduct the Assessment?

A physical security assessment can help you protect your property and people. This is critical for every organization to reduce risk and liability. Seek the help of a local provider that you can trust. Contact us today to start discussing your property’s physical security assessment needs. You can also click here to read more articles related to this topic.

 

ABOUT THE AUTHOR

402.763.2973

rkeenan@lutz.us

LINKEDIN

ROBERT KEENAN + CHIEF INFORMATION & RISK OFFICER

Robert Keenan is the Chief Information & Risk Officer at Lutz with over 20 years of compliance and operational risk experience. He focuses on risk management, compliance, and security for the firm, and will partner with the operations team to drive process improvement and operational efficiencies for Lutz.

AREAS OF FOCUS
  • Risk Management & Compliance
  • Operations
AFFILIATIONS AND CREDENTIALS
  • Association of Certified Fraud Examiners
  • Society of Compliance and Ethics Professionals
  • National Society of Compliance Professionals
  • Certified Fraud Examiner
  • Certified Compliance and Ethics Professional
EDUCATIONAL BACKGROUND
  • BA in Finance, University of Oklahoma, Norman, OK
  • MPA, Drake University, Des Moines, IA
COMMUNITY SERVICE
  • Association of Certified Fraud Examiners - Heartland Chapter, Past Board Member

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PROVIDER RELIEF FUND REPORTING

Provider relief fund reporting

The Provider Relief Fund (PRF) Reporting Portal opened for Reporting Period 2 on January 1, 2022, and will remain open through March 31, 2022, at 11:59 PM ET.  What you need to know:

Providers who were required to report in Reporting Period 1, but did not report:

  • Providers who received one or more payments exceeding $10,000 between April 10, 2020 - June 30, 2020, were required to Report in Reporting Period 1.
  • HRSA states that “You are out of compliance with the PRF Terms and Conditions and must return your Payment Period 1 PRF payment(s) to HRSA.”
  • There are additional instructions on the HRSA site for returning payments and other information regarding “non-compliance”

Upcoming Reporting Requirements:

Period Payment Received Period   Deadline to Use Funds Reporting Time Period
3 January 1, 2021, to June 30, 2021 6/30/2022 July 1, 2022, to September 30, 2022
4 July 1, 2021, to December 31, 2021 12/31/2022 January 1, 2023, to March 31, 2023

 

If you have any questions, please contact Paul Baumert, Julianne Kipple or Lauren Duren, or call us at 402-496-8800.

 

Last Updated: 1/14/2022

 

NEED HELP WITH PRF REPORTING?

Lutz can help you navigate the PRF reporting process successfully. Contact us today!

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