RISK & CONTROLS ADVISORY SERVICES
Our approach to Risk & Controls Reviews and Implementation at your organization reflects our experience across a broad range of industries, with companies of different sizes and geographies, in achieving compliance and long-term integration of best practices and prevailing best standards. We follow a top-down comprehensive and risk-based approach, which allows us to focus our efforts on the most critical activities and enables us to provide a cost-effective solution.
We follow a top-down comprehensive and risk-based approach, which allows us to focus our efforts on the most critical activities and enables us to provide a cost-effective solution.
We assist CAO, CFO, and audit committees in evaluating internal control risks, documenting processes, performing walkthroughs, identifying control objectives and activities, remediation of internal control gaps, and testing internal control for effectiveness. BE Sharp’s assessment and testing methodology is constantly evolving to reflect current practices and to keep pace with the existing requirements of the regulators. It aligns with the COSO Framework and is widely accepted by other service providers, including the “Big 4” firms along with many national and international audit firms.
With years of experience, we’ve learned how to meet the rigorous demands of the regulatory environment and communicate with management, auditors, and audit committees within a risk-based framework. Our team’s objectivity and assessment quality can reveal internal control over financial reporting improvement opportunities and allow external auditors to rely on third-party work.
- Plan, outlining scope, and perform risk assessment in compliance with COSO framework
- Documentation of significant processes and related controls
- Identify key internal controls covering financial statement assertions
- Assess design effectiveness of internal controls, and document walkthroughs for reliance by auditors
- Perform and document controls’ operating effectiveness
- Evaluate individual and aggregate deficiencies and consult on remediation actions
- Testing of Internal Controls and Reporting of Testing Results to process owners, management, and Audit Committee
