Internal Financial & IT Controls
If you are worried about the plethora of regulatory compliance relating to the assessment of your internal financial controls then we have the perfect solutions for you.
Our approach ensures compliance with the COSO framework for SoX assessment. the AICPA guidelines for SOC 1. The relevant requirements for internal financial control, as specified in the Companies Act 2013 (‘the Act’) in India and the latest guidance note from the ICAI.
We assist all stakeholders.
Our bespoke and in-house self assessment tool is unique and provides industry specific insights with practical controls to mitigate risks.
Directors: Of listed companies, who in accordance with section 134 (5) (e) of the Act, are required to establish internal financial control and ensure that such controls are not only adequate but are also operating effectively apart from ensuring that proper systems are enabled for internal financial control for ensuring compliance with all applicable laws & of all companies who are required to state the details in respect of adequacy of internal financial control over financial reporting.
Audit committee: Who in accordance with sections 177 (4) (iv) & (5) of the Act, can call for comments of auditors about internal control systems before their submission to the Board and also discuss any related issues with the internal and statutory auditors and the management of the company.
Independent directors: Who in accordance with schedule IV, are required to satisfy themselves on the integrity of financial information and ensure that internal financial control as well as systems of risk management are robust and
defensible.
