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Internal Control and Compliance

Internal Control and Compliance

Standard Operating Procedures (SOP) Implementation

What’s the secret to keeping operations under control and employees consistently doing the right things? A good system or standard operating procedure (SOP)!

A good SOP project will also accomplish the following objectives:

– Create an effective, efficient and fully integrated operational and control environment within the company and enhance local staff awareness of risk management concepts

– A formal standard operating procedures (SOP) for identified key functions which contain key financial controls to promote efficiency of operations, accuracy of financial reporting and compliance of Company policies

– A detailed SOP implementation plan that will facilitate company management’s efforts to launch, manage, complete, and follow-up on the results of the project

Our services include

  • - Diagnostic review of existing procedures with gap analysis and provide improvement recommendation
  • - Development of SOP
  • - Roll-out and subsequent follow-up/review and testing

Internal Controls Review

A sound internal control system facilitates corporate governance and helps improve operational efficiency.

SP assists in evaluating internal control systems, systematically monitoring operational processes to ensure quality financial reporting and compliance.

We also provide insights on your organization’s control processes and performance improvement opportunities.

Our services include

  • - Implementation, documentation, evaluation, improvement and maintenance of internal control systems
  • - Examining a wide range of internal control issues, including controls over financial reporting, business and compliance risks

Internal Auditing

Ideally, a robust, COSO-aligned internal audit framework should incorporate compliance, controls, risk management, and improve effectiveness on top of identifying potential problem and improvement areas.

Our internal audit offers all the above, on top of customizable support as both an outsourced and a co-sourced service model.

We provide your organization with comprehensive guidance throughout the whole audit process while undertaking internal audit responsibilities, such as analyzing risks and multi-year planning.

Our services include

  • - Internal audit outsourcing and co-sourcing services
  • - Setting up of internal audit function
  • - Undertaking internal audit risk assessments

Sarbanes Oxley S404 Advisory/Implementation

Taking effect in 30 July 2012, the U.S. Sarbanes Oxley Act of 2002, section 404 (S404) was introduced in hopes of strengthening responsibilities of management and improving the confidence of investors, with the regular review and enforcement by SEC and PCAOB.

Our Sarbanes Oxley S404 readiness service helps your organization solve its internal control issues while ensuring S404 compliance. Our team of experienced personnel, reliably equipped with an accounting background with audit experience, are committed to providing professional advice when needed.

Our work systematically undergoes examination and approval by external auditors, thus guaranteeing adherence with international standards of excellence.

Our services include

  • - Evaluating your current processes, systems and operations to determine the gap
  • - Conducting S404 process and control design and operating effectiveness testing
  • - Developing action plans to optimize controls through standardization, centralization and automation
  • - Working with you to advise on the design and implementation of policies and procedures
  • - Performing post-implementation system review, annual managerial testing and more

FCPA and ABAC Review/Investigation Support

With continuous growth in foreign investment and international business transactions, anti-bribery and corruption laws are also seeing increasingly active enforcement by regulators, like the United States Foreign Corrupt Practices Act (FCPA) and The Bribery Act 2010 of UK.
We assist organizations in their compliance programs, especially those dealing with government or state-owned enterprises and are therefore more susceptible to these issues.

Our services include

  • - Bribery/corruption risk gap analysis
  • - Investigation support
  • - Support of Internal Audit/ABAC due diligence

Expense Compliance Review

Risks always exist in Advertisement & Promotion (“A&P”) and Travel & Entertainment (“T&E”) expenditures, especially in pharmaceutical and medical device industry.

To provide increased comfort on the legitimacy and validity of expenditures as well as fraud prevention and detection.

We can help in the following areas

  • - Expense compliance review
  • - Secondment of specialized person

Inventory and Sales Data Compliance Review

The integrity and accurateness of the distributors’ inventory and sales data is the key to our client’s sales and marketing effort.

Our services include

  • - Regular check on the distributors’ inventory system and on-site physical count
  • - Sales data comparison and analysis
  • - Sales data supporting documents review

More Services

Advisory

Audit

HR & Accounting

 

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