Risk / Controls
About Risk / Controls Consulting
An ounce of prevention is worth a pound (or more) of cure.
We start with an understanding of business processes and cycles, and knowing how they should function effectively and efficiently, through design and implementation.
When internal controls become sluggish, fraud can flourish. We assess controls, risks and best practices for these essential business processes and cycles:
- Financial Reporting, Reconciliation, Analysis
- Revenue, Receivables, Collections, Cash Inflows
- Human Resources / Payroll
- Capital Projects / Fixed Assets
- Purchasing, Payables, Cash Outflows
- Production, Inventory
A process-driven approach
To identify risks, the key processes and related controls must be understood. We ask the questions: Who has access to assets? Who makes approval and authorization? How accurately and completely is it all accounted for? What is the effectiveness level of the audit function?
What We Do
Identify weaknesses.
Provide solutions.
Findings and Impact
As risk consultants and internal auditors for multi-national corporations and governments / government agencies, we identify weaknesses in processes and internal controls, which may lead to corruption, fraud, waste, abuse or inefficiency.
Recommendations
Identifying areas of risk is just the first phase of the engagement. Not only do we identify and evaluate risk areas, but recommend management and control systems that prevent, deter, detect, minimize and mitigate the risk in the future.