A successful entrepreneur understands that setting up and managing internal audit controls yields several benefits beyond increased transparency, fraud and future loss prevention and regulatory compliance. At S&P, our team works collaboratively with businesses to help transform ordinary audit functions into value-added contributors that help identify gaps between the current state and best practice approach for controls management as well as strengthen our partners’ decision-making abilities. 

• Design Target Operating Model for Controls Enforcement: Establish governance framework and help segregate responsibilities related to internal controls among various stakeholders to reduce risk of error or foul play and limit your firm’s liability. Our framework ensures that no one person has control over all aspects of any financial transaction. 
• Drafting of Policies & Procedures: Our team can assist document policies and procedures that provide day-to-day guidance to your staff and guidance to management in the event of prolonged employee absences or turnover. 
• Internal Audit: Ensure records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed according to company policies. 
• Assurance Services: Make certain that cash, inventory & equipment are physically secured, counted periodically, and validated against item descriptions shown on control records.
• Controls test automation: We can help transform your audit department by lending our expertise to automate control testing to increase reliability of compliance controls, reduce testing costs and help create efficiencies. 
• Personnel Training & Development: Provide employees with appropriate training to ensure that they have the knowledge necessary to carry out their duties, are provided with an appropriate level of direction and supervision, and are aware of the proper channels for reporting any flags or concerns
• Monitoring Operational Compliance & Efficacy: Review operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned.