Evaluation and optimization of the internal control system

Effective management of business and risks

An effective internal control system (ICS) allows to improve organization’s performance. It provides reasonable confidence in the reliability of financial and operational information, compliance with regulatory requirements, improves control over the assets of the organization (including reducing the likelihood of fraud). In fulfilling these tasks, ICS simplifies corporate governance, increases investor confidence and reduces costs, including external audit.

We are ready to assist you in the creation of an effective system of internal control that corresponds to the model of corporate governance, helps to reduce or prevent risks and achieve goals.

Мы предлагаем следующие виды услуг:

Diagnosis of the internal control system

The diagnosis of the internal control system includes:

  • description of actual business processes and internal control system, creation of control procedure matrixes;
  • diagnostics of control procedures in business processes and information systems, including evaluation of design effectiveness and sufficiency of control procedures for goal achievement;
  • diagnostics of current organization of general computer control in used information systems;
  • analysis of corporate control methods;
  • analysis of control procedures using spreadsheets;
  • risk analysis, risk mapping, risk matrices and controls;
  • analysis and assessment of corporate policies, procedures, regulations and business processes description relevance;
  • checking the rights and authorities separation in business process and information systems;
  • internal benchmarking, comparative analysis of business processes and controls of other organization departments;
  • external benchmarking- comparative analysis of business processes and controls of industry counterparts and in the best world practices.

Diagnostics allows to create a clear picture of current business processes organization and internal control systems, directions of further optimization.

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Optimization of internal control system in processes and systems

The services for business processes optimization include:

  • analysis and optimization of business processes and internal control system including preparation of management and accounting reports, management of IT-processes and methods of corporate government control;
  • description of actual business processes and internal control systems, creation of control procedures, risks and control methods matrixes;
  • participation in the implementation of information systems and business processes automatization in order to build an effective internal control system;
  • recommendations for increase of general computer control effectiveness in information systems;
  • optimization of spreadsheet management processes and data contained there;
  • optimization of duties and authorities;
  • unification of business processes in organizational units;
  • preparation of business processes and control methods optimization plan;
  • implementation of business processes and internal control system changes;
  • employee training and consulting support.

Optimization allows to effectively organize business processes with a strong system of internal control, complete documentation for the description of the ICS and determine the areas of support and improvement of ICS.

Implementation of internal control system according to requirements of SOX, J-SOX, Euro-SOX and other

We offer services for implementation of internal control system which meets the legal requirements of SOX (Sarbanes-Oxley), J-SOX, Euro-SOX and other. Such services include:

  • presentation to the management of the existing regulatory requirements for the internal control system;
  • assessment of risks and their significance, risk mapping;
  • diagnostics of internal control system in business processes and information systems, evaluation of corporate control methods;
  • preparation of diagrams, descriptions, risk matrixes and control methods, both actual and expected;
  • recommendations on correcting deficiencies and strengthening the control environment;
  • preparation of an action plan to address identified shortcomings;
  • consulting support during the elimination of identified shortcomings;
  • assistance in self-assessment of the internal control system;
  • development of policies, procedures and other internal control documentation;
  • employee training on risk assessment methods, analysis and description of internal control system, self-assessment of internal control system, development of testing plans and results documentation.

Evaluation of the effectiveness of internal control for the purposes of SOX, J-SOX, Euro-SOX and other

We offer independent evaluation services on effectiveness of internal control over the preparation of financial statements for organizations which are required to comply with SOX (Sarbanes-Oxley), J-SOX, Euro-SOX and other requirements and periodically confirm to regulators the effective organization of internal control. The result of our work will be an independent auditor’s report on effectiveness of internal control over preparation of financial statements.

We also advise on procedures of self-assessment of internal control system and preparation of management’s report on effectiveness of internal control over the preparation of financial statements.

Organization of seminars and training events

We offer seminars and training events on important issues in internal control (Seminars at PwC Academy). Our specialists with practical experience in the diagnostics, optimization and implementation of internal control systems will share their knowledge and experience about best practices that meet regulatory requirements (SOX, J-SOX, Euro-SOX and other) and other methods, such as risk assessment, analysis and description of business processes and controls, processes of self-assessment of internal control system, preparation of testing plans, documentation and others.

Организация семинаров и обучающих мероприятий

Мы предлагаем семинары и обучающие мероприятия по актуальным вопросам внутреннего контроля (Семинары в Академии PwC). Наши специалисты, обладающие практическим опытом реализации проектов по диагностике, оптимизации и внедрению систем внутреннего контроля, поделятся с вами знаниями и информацией о лучшей практике, соответствующей нормативно-правовым требованиям (SOX, J-SOX, Euro-SOX и др.), а также методами оценки рисков, анализа и описания бизнес-процессов и средств контроля, процесса самооценки системы внутреннего контроля, подготовки планов тестирования и документирования его результатов и др.

Contact us

Azamat Konratbayev

Partner, Risk assurance leader, PwC Kazakhstan

Tel: +7 727 330 3200

Leila Nik-Zade

Senior Manager, internal audit and evaluation and optimization of the internal control system, PwC Kazakhstan

Tel: +7 727 330 3200

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