Internal Control, Internal Audit and Risk Management
Advisory services to strengthen companies' internal control systems, manage risks effectively and align internal audit processes with corporate objectives.
Scope
Service Scope
Internal control system assessment
The existing control environment, authority and responsibility structure, approval mechanisms and process controls are analyzed for effectiveness.
Internal audit function design
Internal audit methodology, audit universe, annual audit plan and reporting structure are designed to reflect the company's risk profile.
Risk management framework
Strategic, operational, financial, compliance and reputational risks are identified, and risk assessment and monitoring mechanisms are established.
Process and control testing
The design and operating effectiveness of controls are tested in key processes such as procurement, sales, inventories, finance, human resources and information systems.
Compliance and improvement advisory
Actionable improvements are developed to address identified control deficiencies, risk areas and process weaknesses.
Deliverables
Deliverables and References
Internal control assessment report
A comprehensive assessment report covering the control environment, process controls, authority structures and control deficiencies is prepared.
Risk matrix
A risk assessment matrix is created to classify strategic, operational, financial and compliance risks by significance.
Internal audit plan
An internal audit plan covering the audit universe, priority processes, audit timetable and testing procedures is prepared.
Control test results
Findings, risk impacts and evidence from control testing across key business processes are reported.
Action and improvement plan
An actionable improvement plan specifying responsible parties, priorities and target dates is provided for identified findings.
Our Process
How We Work
Current-state and risk analysis
The organizational structure, key processes, control environment and risk profile are assessed to determine priority review areas.
Control and audit design
An internal control matrix, audit plan, test procedures and reporting formats are developed based on the risk assessment.
Fieldwork and testing
Document reviews, interviews, control tests and data analyses are conducted in the selected processes.
Reporting and action monitoring
Findings, risk ratings and recommended improvements are reported, and implementation progress is monitored.
Industries
Advisory That Understands Your Industry
Our specialists understand the tax, audit and operational needs of each industry.
Related Specialists
Specialists Working with This Service
Raising the bar
in advisory and audit.
We are a strategic partner to more than 700 organisations, delivering practical, tailored solutions to international standards.
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