Development of Internal Controls

Internal controls refer to all of the policies and procedures management uses for the organization to achieve its goals.

Internal controls are often associated with merely financial control, quality assurance, and review activities while they actually cover the entire organization. The majority of mistakes, inefficiencies, negligences, and malpractices within the organization are due to the lack of appropriate internal control and governance. When things go down the drain, the first question is always the following: who was responsible for controlling and how was it practiced?

Every organization – irrespective of their size or industry – needs internal control. It is, however, too often associated with controlling other people and looking after mistakes. Everything ultimately comes down to leadership:

Internal control consists of all of the processes and activities that assist with preventing risks from standing in the way of goals. It is not just a question of written instructions and acting according to them but ultimately a matter of people and corporate culture. Spoken and unspoken rules.

How we can help you

For the past 15 years, we have been working toward more practical and positive internal control. We want to use our expertise in helping you with the following:

• Recognition of key processes and internal controls
• Identification, documentation and implementation of internal control according to The Corporate Governance Code
• Assessment of operational efficiency of internal controls
• Facilitation of internal control self-assessment and organizational coaching on controls
• Coaching managers about the importance of compliance, internal control and risk management in leadership