Internal control system
Stages of project work:
1. Examination and evaluation of the existing system of internal control in the company.
- Analysis of the internal regulatory documents defining the structure and functions of the internal control systems and regulating the activities for internal control.
- Questioning employees in order to determine the functions actually performed in terms of internal control, as well as the existing system of interaction with other structural units.
- Analysis of functions carried out by the structural units of internal control for their sufficiency or excessiveness, detecting of doubling of functions and “irresponsibility zones”.
- Evaluation of reasonability of existing functions division among the structural subdivisions of internal control.
- Analysis of existing internal control for control of the demands of regulatory documents and up-to-date principles of internal control system.
- Evaluation of processes and risks, underlying the internal control system, control environment, risk evaluation procedures, control actions, as well as information and information transfer procedures.
- Evaluation of efficiency of acting organizational and functional management for the internal control.
2. Elaboration of the internal control system.
- Dividing of obligations, powers, responsibilities (for granting the safety of property, funds and documents).
- Internal control of assets.
- Control over the execution of plans and planned tasks.
- Internal control in the company.
3. Elaboration of drafts of internal normative documents.
- Elaboration of provisions on internal control.
- Regulation of procedures of internal control in the company, schedule of the documents workflow of the internal control system regarding the execution of control functions.
- Elaboration of the system of functional and organizational company structure and subdivisions with indication of management connections.
- Execution album of forms of the internal control system.
4. Implementation of the internal control system in key business processes.
5. Implementation of IT-solution for automatization of the internal control system.
- Decrease of costs for liquidation of “fires”.
- Redistribution of resources for achievement of strategic goals.
- Increase of efficiency of business processes.
- Decrease of fraud risks.
- Increase of business transparency for owners and business partners.
- Safety of assets.
- Decrease of fiscal risks.
- Granting of business steadiness with consideration of constant changes.
- Following the standardized requirements.
Internal control system is the multi-layered structure, the subjects of which are represented by all management bodies, structural subdivisions and employees of the company, the activity of which is connected with the risks able to affect the goal achievement of activities and execution of working responsibilities.