Shivendra Jha
Partner - Head of Advisory Services and International Liaison Partner (ILP)
Once we develop the ICF, the next phase will be undertaking an internal controls maturity and gap assessment using risk and control matrices covering entity-level controls, ITGCS and process-level controls. This can be done for ICOFR only or the entire ICF. This assists in providing risk and control status over operational, financial and compliance matters.
We take time to understand your existing processes and controls and benchmark these against leading practices and frameworks such as the COSO Internal Control Framework. We identify controls that are designed well, areas of improvement, control gaps, and redundant controls. We work together with management to develop a remediation plan with short – medium, long-term actions to address identified gaps and opportunities for optimisation.
