Internal controls optimisation ? The right controls at the right cost

You keep a sharp eye on your business processes and results. You want to be 'in control'.
But how do you measure the achievement of results … and how reliable is reporting on these results? Your oversight may need to extend to multiple divisions, possibly spread across different locations, using highly automated yet distributed environments, etc.
Simply stated: the probability of error s is quite large,  … but imposing double-check upon double-check is not feasible either, be that from a cost perspective or from motivational considerations.

Internal controls

You can improve your internal controls by evaluating and adjusting these on a regular basis. Where needed, you can improve the alignment of your control environment to the risks that your organisation faces by introducing internal control measures in and around your processes and systems , but very often also by focusing on true key controls.

Guidelines

By taking suitable measures in a timely fashion, you can minimise risk to acceptable proportions. This can be done by working with clear objectives and guidelines for your internal control processes, and by allocating clear responsibilities to your entire workforce. We can help you integrate the right controls in your regular operational procedures, thus avoiding that controls become an inefficient and documentation-heavy add-on.

Statutory and regulatory requirements

For listed companies, the standards that need to be met by internal control processes are already laid down (but they also keep evolving, e.g. with the new banking law in Belgium). PwC’s advisors can help you in adhering to the standards, … and to establish sustainable mechanisms to stay compliant. We keep you informed of developments in this area and as soon as the legal rules are introduced, you can expect a bespoke plan of approach, tailored to your organisation.

Reducing costs

Controls are no longer seen as an ‘add-on cost’, as the benefits of a strong control environment are clear. Nonetheless, few companies have achieved true cost reductions thanks to optimised internal control frameworks.

Together with you, our specialist advisers examine the inter-connections of the core business processes as well as the existing controls within your organisation, to identify areas where efficiency gains can be achieved. This exercise will enable you to maintain your control organisation at the required quality level, and to increase the efficiency of the different audit reviews you may be subjected to.

What can you expect from PricewaterhouseCoopers?

A thorough analysis of the processes and internal controls in your business;

• Up-to-date knowledge of the software and audit techniques available on the market;
• Advisers who think along with you to achieve an optimal balance between control costs and benefits, tailoring the controls framework implementation to your company’s specific needs, and ensuring it is sufficiently robust to meet changing requirements (be these business-driven or regulatory in nature);
• Continuous increases in efficiency as control techniques and process improve.