Shivendra Jha
Partner - Head of Advisory Services and International Liaison Partner (ILP)
We undertake a top-down approach to risk assessment using risk and control matrices and flow charts to understand processes and identify key risks and controls. For clients that already have an ICF in place, we assist management in undertaking periodic testing of the design and operational effectiveness of both new and existing controls, covering either ICOFR only or entire ICF testing covering operational, financial and compliance objectives in line with the COSO framework.
Effective internal controls require a combination of the right talent, processes and technology to design and implement. Internal controls need to be thoroughly tested to be sure they are fit for purpose. Below are some common examples of where we can help you with the Controls Testing Programme:
- Walkthroughs, test of design and test of effectiveness for processes
- Identification of control gaps and recommendations for remediation and enhancement opportunities
- Documentation of evidence for control operation
- Remediation support activities
We work together with your external auditors to ensure there are no surprises at year-end. We use tools to assist management in the continuous monitoring and testing of controls in future.
