Improving Processes and Internal Controls

In a highly competitive environment, effective process management is key to success for every business. It is achieved by breaking down and analyzing business activities as interdependent processes instead of functions and tasks. The targeted results of each process are identified and compared against the actual results to assess the effectiveness of the process.

 

We assist our clients in reviewing the processes in each financial or operational function and analyzing their effectiveness to suggest improvements.

 

We also work with our clients to improve their internal controls to provide reasonable assurance regarding the achievement of objectives, the effectiveness and efficiency of operations, reliability of financial reporting, as well as compliance with applicable laws and regulations.  We design the controls to prevent and detect fraud and protect our clients' assets, both tangible and intangible, including business reputation and intellectual property such as patents and trademarks.

 

Listed below are the key controls affecting each process defined in broader terms:

Preventive: Designed to prevent errors, frauds or irregularities from occurring

Detective: Designed to identify errors, frauds or other irregularities that may have occurred

Corrective: Designed to remove errors or irregularities that have been detected