Striking a balance between risks and control
In recent years stakeholders have come to expect much more in terms of the way companies are managed. Both the Board of Directors and Management therefore require a reliable internal control system (ICS). Managing internal controls efficiently and effectively helps Management when it comes to:
- Achieving business objectives
- Compliance with laws and regulations
- Safeguarding business assets
- Identifying, reducing and preventing errors and irregularities
- Ensuring reliable and complete bookkeeping
- Ensuring timely and reliable financial reporting
In future the auditors of any entity subject to an ordinary audit will have to confirm the existence of an ICS (Article 728a of the Swiss Code of Obligations). One of the biggest challenges is ensuring that the documentation of processes and controls is formal and comprehensible.
Your benefits
PwC Internal Control Services supports your company in determining the scope and degree of complexity of an ICS such that it enables you to meet all business and regulatory requirements. We deliver targeted solutions for commerce and industry, banking, insurance, services and SME industry segments. Our risk-oriented approach comprises the following phases:
- Initiation and conception: analysing the current state of the ICS and defining the desired situation
- Development and implementation: documenting processes, risks and controls, defining optimisation potential and specific measures, as well as designing and implementing control structures
- Operation: assessing the existence and effectiveness of the ICS
Contact
ICS contacts
Of further interest
- Article: Wie sich Wirksamkeit und Effizienz interner Kontrollen erhöhen lassen (Disclose December 2009)
- Article: Plädoyer für die Optimierung des Internen Kontrollsystems (Disclose December 2009)
- Publication: Wie schneiden Sie ab? – Studie über Kontroll- und Prüfungsaktivitäten
- Publications Internal Controls
- Publications Internal Audit
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