Governance, Risk and Compliance

Internal Control Systems

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The requirements of an internal control system which consists of a bunch of relevant technical and organizational measures and controls are high and should be continuously adapted, due to the increasing complexity of the companies’ environment and existing IT systems in use.

Even the increased expectations of management and stakeholders concerning compliance require an adequate, effective and efficient internal control system in use, with reliable and transparent organizational structures and business processes. At establishment and design of a documented internal control system its integration within the existing company organization and other monitoring subsystems should be considered, in order to realize efficiency and optimization potentials.

We support you in establishment of a documented internal control system and in analyses, optimization and further development of the existing internal control system. Our services, amongst others, include:

  • Documentation and analyses of the control environment,
  • Specification, analyses as well as categorization of all relevant internal controls on entity, process and IT levels, including further classifications,
  • Specification, documentation and analyses of processes and controls descriptions as well as preparation of a control matrix,
  • Determination and establishment of the requirements of an adequate internal control system as well as further steps with regard to the assessment of its effectiveness, including reporting,
  • Design and establishment of a Control Self Assessments or Continuous Monitoring procedure with continuous, extensive automated monitoring of business processes and controls by the respective managers and employees in charge, taking into account the existing IT environment with its implementation capabilities of automated monitoring procedures,
  • Selection and implementation of software solutions in the area of internal control systems.