Internal Controls Assurance and Compliance Attestations

Why are internal controls so important?

Demands from customers, management, and investors for more robust internal controls have increased dramatically over the last few years. The need to verify management assertions about the effectiveness of internal controls has further increased due to the number of accounting frauds, misrepresentation, and supplier breaches witnessed.

Xcina’s internal controls assurance services and frameworks provide an effective way to tell your customers and prospects how robust your organisation’s internal controls are, and consequently how trustworthy their information is.

Our internal control frameworks provide an efficient and independent way for organisations to provide assurance on the design and operating effectiveness of their internal controls to all stakeholders.

Our independent internal controls assurance activities, audits and assessments are geared to:

• Provide you with independent and credible assurance over the design and operation of your internal controls. Firms that do not have these independent reports are consistently screened out of tender processes.
• Help your organisation overcome the scepticism that is naturally associated with information provided by management as part of sales or compliance requirements. Trust and confidence are derived from having an independent party test the controls.
• Reduce your administrative burden of responding to multiple requests for the same information from prospects, customers, and their advisors.
• Mitigate the risk of inconsistent information provision to customers as they are all provided with the same standard report.
• Differentiate your organisation’s service or product from competitors by providing more reassurance over the process and delivery. Providing independent assurance over outsourced processes and systems is a great marketing tool.
• Allow your organisation to benefit from the significant skills and expertise of independent experts in evaluating the effectiveness of internal controls to achieve specified objectives.
• Design and implement internal control systems across your organisation.