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Internal Control Services

Our experience in implementing internal control system improvement projects has seen our experts perform operations across a wide range of work, employing their inter-disciplinary experiences.

Internal control system improvement projects involve our consultants assisting companies to identify and assess risks related to the accuracy of their financial statements and the security of information systems and reliability of data. Based upon assessing these risks, Spry Control professionals make an assessment as to the adequacy of the internal control procedures designed and perform checks on whether these procedures are appropriately implemented. Upon completion of these assessments our consultants develop documentation that clearly describes the processes, risks and controls identified, and any recommendations for internal control improvements based upon an agreed set of objectives.

Goal Post: Efficiency?

In conducting these projects we place emphasis on control efficiency and continually search for ways that the internal control system can be further rationalized. This leads to adjusting the internal control to the client's risk appetite in order to achieve reduced costs for the given risk appetite. We apply a "top-down" approach to our engagements to ensure that the key risks of the company, business units, departments, and organizational units are addressed adequately and aligned completely. Our risk services to clients allows our consultants to focus on only those controls that cover the key relevant risks to the company, resulting in a more overall efficient control environment for the company.

Our internal control experts also play an important role in business process optimization projects, ensuring that these newly designed processes contain the appropriate internal controls, thus, providing a complete business process design.

Internal Control for the benefit of stakeholders

Internal Control supports operational and financial efficiency, reliability of financial reporting and regulatory compliance and is a very useful tool in the hand of executive management and Board of Directors. It contributes to optimizing the value of shareholders and is an effective defense for Board of Directors' duty of care to shareholder. Some of other advantages include:
  • Better managerial decisions based on unbaised, accurate and reliable financial and management information;
  • Synchronized the interests of the company’s shareholders with the executive management and other stakeholders;
  • Improved stakeholder understanding of company's business;
  • Better management of financial, business and technology risks; and
  • Implementation of robust, approved procedures enhances planning and monitoring of business.

Internal Control as a vehicle for regulatory compliance

Since 2002, the requirements imposed on companies by shareholders, Board of Directors, executive management, regulatory bodies and other stakeholders have significantly increased and continue to rise. The importance of internal control systems is being emphasized as an assurance in enabling the company to attain its objectives.