Risk and internal control services focus on review of internal processes, documentation flow, control gaps, reporting practices and compliance procedures. The work is performed based on the agreed scope and information made available by management.
Service areas include review of accounting processes, authorization procedures, document flow, reconciliation practices, reporting controls, compliance monitoring and segregation of duties. The objective is to identify practical observations relating to documentation, accountability, reporting discipline and process control.
Internal control review does not eliminate business risk or management responsibility. Observations are provided to support better documentation, process discipline and compliance awareness within the scope agreed for the engagement.