Internal Control Evaluation

Financial and other institutions nowadays are under scrutiny by regulatory bodies such as the European Central Bank to continuously and regularly evaluate their internal controls in place to address the:

a)     accomplishment of established goals and objectives;

b)     economical and efficient use of resources;

c)     adequate control of the various risks incurred and the safeguarding of assets;

d)     reliability and integrity of financial, IT and management information;

e)     information security controls;

f)      compliance with laws and regulations as well as policies, plans, internal rules and procedures.

Our Nexia extended team has the expertise, know-how and in-depth knowledge to assess your organisation’s internal control system and give you a multi angle bird’s eye independent view of its effectiveness, reliability and sustainability.

We will analyse the information systems used, the role and constitution of the Board of Directors and senior management, the Audit Committee, Internal Auditors, External Auditors and the Regulatory Authorities to provide our evaluation as to how systems interact and interdepend to identify weak links and areas for improvement. Such reviews provide Boards with critical insights as to the veracity of their internal control systems but also help in compliance with relevant regulations.