Internal Business Controls
Internal controls lie at the foundation of an effective plan to comply with regulations and successfully pass audits. However, many companies are discovering it is not practical or cost effective to internally resource all the subject matter expertise they require. This certainly rings true when applied to establishing, documenting, maintaining, measuring and reporting on organizational, process and technical controls. Many organizations have found the answer lies in a partnership to provide flexible and knowledgeable resources, available when and as needed.
Whether taking a fresh look at your company's existing internal controls plan or assisting in creating your first risk-based plan, Sirius Solutions can prioritize the focus of the annual internal controls plan to provide optimum risk coverage. We also ensure that controls identified in the plan provide the most efficient and effective approach to mitigating the associated risks. Examples of our services in this area include:
- Creating governance strategies
- Creating an effective department structure
- Identifying needed skill sets
- Establishing compliance techniques
- Implementing controls frameworks
- Assessing for proper segregation of duties
- Mining relevant data for risk-based analysis
- Monitoring systems for gaps or errors
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