Internal Control System Set-up
A system of effective internal controls is fundamental to the safe and sound management of institutions. Effective internal controls help organizations protect and enhance shareholders’ value and reduce the possibility of unexpected losses or damage to its reputation. Here is a five-step process to follow when developing and implementing effective internal controls in an organization:
• Establish an appropriate control environment.
• Assess risk.
• Implement control activities.
• Communicate information.
• Monitoring & Improving
Contact us for further discussion that how we can help you to set-up the internal control system based on your institutions’ risk and business profile.