Internal Controls Design & Testing
Internal controls are the backbone of a well-governed organization. They consist of the policies, procedures, and processes that ensure business operations are efficient, reliable, secure, and compliant with regulatory standards. In simple terms, internal controls act as a company’s checks and balances — helping safeguard assets, reduce errors, prevent fraud, and produce accurate financial and operational information.
Strong internal controls not only support risk management but also enhance overall business performance and stakeholder confidence.
Our Internal Controls Services
We provide a broad and integrated suite of internal control services aimed at strengthening governance, reducing risk exposure, and improving financial reliability.
• Sarbanes-Oxley (SOX) Review
We conduct detailed assessments of your existing SOX framework to evaluate design effectiveness, identify gaps, and enhance your compliance strategy. Our experts support both US SOX and Canadian SOX (CSOX) requirements, ensuring your organization meets regulatory expectations for accurate and reliable financial reporting. We help streamline processes, reduce control inefficiencies, and support remediation efforts to achieve year-round SOX readiness.
• Internal Control Over Financial Reporting (ICOFR)
We help organizations build and maintain a strong ICOFR environment that ensures transparency and accuracy in financial statements. Our team assesses process-level and entity-level controls, identifies key risks, assists in documentation, and evaluates control performance. We support companies in designing effective control activities, implementing improvements, and testing their operational effectiveness to ensure compliance with evolving global standards.
Additional Value We Provide
End-to-End Risk Assessment: Identify critical financial and operational risks and map them to relevant control activities.
Control Design & Documentation: Develop clear, standardized, and audit-ready process documentation, including narratives, flowcharts, and RCMs.
Control Testing & Validation: Perform walkthroughs, sample testing, and effectiveness evaluations to ensure controls operate as intended.
Remediation & Optimization: Provide actionable recommendations to strengthen weak controls, eliminate redundancies, and improve overall control maturity.
Automation & Technology Enablement: Integrate automated controls, workflow tools, and data analytics to enhance efficiency and reduce manual error.