Testing of internal control system
In order to provide successful functioning of any Company, rise in profitability, retaining assets and increasing incomes it is necessary to optimize controlling mechanism which is the most important element of a daily internal control.
Internal control system (ICS) is a set of internal rules and control procedures established by the Company management in order to achieve the following objectives:
- compliance with the plans, procedures and legislation;
- securing stable and effective functioning;
- retaining and rational use of assets;
- prevention and disclosure of fraud, errors, ensuring the accuracy and completeness of the accounting records and timeliness of financial information;
- achievement of goals and tasks by Company’s divisions.
Implementation of audit procedures on evaluation of internal control system efficiency provides the executive staff with unbiased information regarding:
- ICS reliability;
- compliance of ICS with the requirements of current legislation;
- reliability of accounting system;
- reliability of financial statements;
- ring-fencing procedures;
- efficient use of resources (labor, financial, etc.).
Independent evaluation of the internal control system helps the management in making decisions on goals and tasks of the Company.
We would like to pay your attention to the service for independent ICS testing that includes the following components:
|Examination of the company’s business, corporate organization diagram||+|
|Interviews with the company’s management||+|
|Analysis of internal regulations, rules and orders||+|
SWOT ICS analysis
|Identification of ICS weaknesses and risks. Risk assessment.||+|
|Report preparation and recommendations for ICS system improvement.||+|
|Meetings in round table format. Presentation and discussion of ICS test results.||+|
We suggest you to test your ICS independently and receive quick results.
We will be also glad to prepare an individual offer for your company on audit procedures for ICS testing.
In order to receive the offer for ICS testing, please fill in the Questionnaire, provided below.