Were your employees feeling the need to do things their own way or did your company have trouble keeping records? You may want to consult a consultant to avoid these issues and prevent unnecessary losses.
A company’s internal controls go beyond its financial operations. Internal Controls at every level of an organization address all Risk Management Objectives (Strategic, Operational, Reporting, and Compliance). The consultant will assess multiple Risk Components within each Risk Management Objective, as well as at the entity and unit levels. Included in these activities are the Internal Environment, Objective Setting, Event Identification, Risk Assessment, Risk Response, Control Activities, Information & Communication, and Monitoring.
This includes protection from fraudulent activities, operational inefficiencies, and not adhering to company policies. Whether it be establishing Internal Controls for public reporting or private safeguarding, our consultants have years of experience with Sarbanes-Oxley Section 404 audits and can assist your company in establishing procedures for your internal control structures.
Perhaps your company has problems with segregation of duties, record retention, or your employees feel like doing things their own way. MCDA CCG Consultants can help mitigate these problems which are likely costing you money.
- Assessing current internal controls and susceptibility to fraudulent activities
- Documentation of controls structure
- Internal audit testing
- Control structure implementation
- Establishing new policies and procedures to mitigate financial or operational loss in the business
- Assisting all levels of employees, from Board of Directors to hourly employees, in understanding and abiding by a sound Internal Control Structure
- Update of Process Narratives and Risk Control Matrices. Prepare test scripts and execute test procedures as well as remediation procedures. Ensure client compliance with SOX section 302
What are the benefits of learning about controls? Having a solid understanding of internal controls will help the auditor evaluate the risks of material misstatement, which in turn will assist in creating and executing audit Provides customized solutions based on an assessment of risks. This is true regardless of the size of the entity.
MCDA CCG can help assess and implement crucial internal controls to protect your business. Our expert consultants have extensive experience and training to assist in identifying opportunities and implementing internal controls for your company.
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