Companies are obliged to provide information on the effectiveness of the internal control system (ICS) within the annual financial statements. In order to provide appropriate evidence that the control system is effective, an examination of the ICS shall be carried out at least once a year.
The controls, which are established in the company, are to be tested on the basis of the design and operational effectiveness. An essential part of the operational effectiveness testing is to ensure that the controls are performed and mitigating the described risk.
Especially for companies that are subject to the American SOX requirements, this is an enormous effort, but this can usually not be conducted by internal staff. As a result, these audits are rather thin, or are costly carried out by the external auditors.
What we do
ISPICIO has many years of experience in the creation and testing of ICS environments. In addition, our employees also have sufficient experience with international control requirements, such as the American SOX or the Japanese J-SOX.
ISPICIO carries out the testing of the controls on an annual basis, ensuring that the established controls are effective. At the same time, the requirements on internal employees are kept as low as possible. Due to the experience with different industries and company sizes, the customer’s expertise in the recommendations and adaptations of the control system becomes visible.
Why choose ISPICIO?
ISPICIO has a lot of experience in the testing of internal control systems and can thus also give you added value in the design of the ICS. In addition, the costs are more manageable than with a large consultancy. Expertise with the aim of providing the best possible support to the customer while always keeping an eye on the added value of the company is our claim.
Take advantage of this approach and let ISPICIO carry out your ICS audit and you will be able to find out more what it means to generate added value in the compliance environment.