Internal control is broadly defined as a process, affected by an entity’s board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:
- Effectiveness and efficiency of operations.
- Reliability of financial reporting.
- Compliance with applicable laws and regulations.
Internal control also aims to cover authorization, completeness, accuracy, validity, segregation of duties and error handling. Every organisation has its own procedures and policies. Internal control covers all this organizational procedures and policy to make sure that all the organizational assets are protected and all the activities take place according to organizational policy and procedures. So, to setup an Internal Control system is very essential or one of founding stone for creating successful company or organisation.
Our experienced team members work shoulder to shoulder with the organizational heads of various departments and help them to design and set up a system of Internal Control and standard operating procedures which fulfil the above three objectives. Moreover, once they are set up, our team constantly monitor the same for any discrepancies as well as improvements, if required.
Nowadays Internal Control and Internal Audits are prerequisite to Organization’s success. SBA maintains client’s trust and confidence through the best and advanced Internal Audit and Internal Control solutions since last 30 years.