Sustainability of Internal Controls

Sustainability of Internal Controls

Since 2008 Swiss companies have been audited on the existence of a formal Internal Control System (ICS). KPMG conducted a survey to assess the sustainability of ICS related processes focusing on the design and setup of the ICS, the benefits it provides to the business and the initiatives taken by the companies to optimize their control frameworks. The survey allows for qualitative benchmarking.

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Our competences in the area of ICS (some examples):

  • Optimization: Analyzing the current ICS framework and assess the potential for improvements (e.g. control reduction and automation, configuration of the ICS testing procedures, development of a sustainability concept).
  • Benchmarking: Performing peer review of the ICS with comparable companies and identify possible areas for
    improvement; supporting the assessment of recurring ICS costs for ICS maintenance, control execution and testing.
  • Sustainability/Development: Supporting the development and implementation of a long-term ICS
    sustainability concept.
  • COSO 2013: Review & assess the ICS framework based on the new COSO 2013 principles.
  • Tools: Supporting the development of a business case to implement an ICS tool (e.g. define requirements catalogue, perform market analysis and product selection, analyze interfaces with other IT applications, and support implementation).
  • Control Automation: Analyzing the current ICS control catalogue, and identifying and assessing the potential for control automation based on functionality of existing IT applications including assessment of cost saving potentials.

Internal Audit, Risk and Compliance Services (IARCS)

Good corporate governance is key to the success of any company. In this context, internal audit, risk and compliance management are pivotal.

 
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