The Companies Act, 2013 has a requirement for Directors and Auditors to give an assurance on the Internal Financial Controls in an entity. A standardized set of well-defined processes is beneficial since it removes a lot of complexity in running business operations.
We understand the business and its processes in detail, understand the gaps and control lapses in the process, and design an extensive Standard Operating Procedures (SOP) that is essential to achieve the business objectives. Once the SOPs are finalised and necessary approvals have been obtained, we would support the client in smooth implementation of the processes. In order to comply with the requirements of Internal Financial Controls, we provide services in preparation of risk control matrix, testing of the controls and providing an opinion on the same.