Professional services
Risk Advisory and Internal Controls
Internal controls are the checks a business uses to make sure transactions are authorised, recorded correctly and protected from error or misuse. As a business grows, informal checks often need to become documented processes.
What the service covers
- Internal control reviews and risk frameworks
- Assessment of existing controls over areas such as purchasing, payments, sales and inventory, with practical recommendations, and development of a framework for identifying and monitoring risks.
- Process improvement and SOP design
- Mapping of finance processes and drafting of Standard Operating Procedures (SOPs) so tasks are performed consistently and responsibilities are clear.
- Payment governance
- Design of payment approval and cash control processes, including a maker–checker mechanism, where one person prepares a payment and another approves it.
- ERP and MIS advisory
- Advice on Enterprise Resource Planning (ERP) and accounting systems and on Management Information System (MIS) reporting, so that systems produce the information management needs.
- Governance risk assessment
- Review of governance arrangements, such as delegation of authority and reporting to the board or owners, to identify gaps.
Scope and conditions
- Recommendations are implemented by the business. Controls reduce risk but cannot eliminate it.
- Where the firm is the statutory auditor, design and implementation of financial information systems and similar services may be restricted. This is assessed before any engagement.
Contact
Discuss your requirements with the firm
Share a brief description of your business and what you would like to understand better. The firm will respond to discuss whether and how it can help.
Contact the Firm
Or call +91 92132 33744