"The 7 Secrets to Highly Profitable Internal Control Systems" gives you step-by-step information about how you can implement the whole system while using minimal resources.
In a 5-step Proven Success Formula you learn exactly what you need to implement an Internal Control System from scratch, from focussing on the important issues over forming the optimum project team to writing a self-assessment report and communicate to external auditors:
- Plan and Scope for Success
- Analyse and Leverage Existing Control Environment
- Remediate
- Conduct Self-Assessment
- Ensure Continuous Improvement
The ebook contains loads of hands-on material, like checklists for all significant processes.
The content includes:
- Risks and Control Objectives concerning Information Technology
- Risks and Control Objectives of the Main Processes (Financial Closing and Reporting, Treasury, Sales, Purchasing, HR and Payroll, Fixed Assets, Inventories)
- Explanations of the Five Control Elements of the COSO Framework
- How to Test the Other Components of the COSO Framework (Control Environment, Risk Assessment, Information and Communication)
- How to carry out Risk Assessments and what needs to be considered
- How to Form a Strong and Powerful Project Team
- How to Develop Test Plans
- What should Be Included in the Self-Assessment Report
- How much Time is needed for the Compliance Project
- Examples of Risk Matrix, Flow Chart, Narrative and Test Plan
- How to Test Manual and Automated Controls
- Benefits and Obstacles of Internal Control Systems
- How to Identify Accounts, Processes and Locations to be considered in an ICS
- Ways to Improve the Level of Compliance Continuously
- What Should Be Included in an Effective Anti-Fraud Program
- Common challenges and how to overcome them
- What to Identify in A Gap Analysis
- How to Form an Effective Audit Committee
- How to Perform a Walkthrough
- How to Improve Existing Processes and Cut Costs
- How to Leverage Existing Process Documentation
- The Main Control Issues facing Companies
- How to Conduct the Self-Assessment
- How Culture and Integrity can Be Improved
- The Best way to Document Controls
- How to Add Value during Remediation
