Companies Act casts the responsibilities on statutory auditors to state in audit reports whether a company maintains adequate internal financial controls and the operating effectiveness of such controls. We offer the following services in this domain:
Education and Training
Educate Audit Committee and C-level executives on internal financial controls and factors to consider when determining the control framework.
Assess existing state processes, control activities and available internal control documentation; Mapping with the internal control framework elements; Provide advice and recommendations on potential gaps, including potential efficiencies and enhancements to business and IT processes.
Implement Controls or Process Improvements
Assist in implementing new processes and controls or enhancing existing processes and controls in:
Integrate Control Framework into Other Functions
Evaluate the effectiveness of other functions like Internal Audit, Regulatory in meeting the control framework requirements.
Assist the function in integrating the control framework into existing processes, methods and documentation.
Advise management on potential opportunities to leverage control framework in other operational or compliance functions.
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