What it is:
Documentation of internal controls is the process by which an outside internal auditor will review the processes within an organization that prevent fraud. It ascertains risks, current controls, and recommends actions and processes to remedy situations that might present the risk for fraud.
What we do:
A UHY Advisors professional will interview appropriate people within the client company to understand current processes. We will produce process mapping to allow management to see how the organization works, and where material weaknesses in current processes might lie. We also lay out plans for compensating controls where corporate risks are not currently mitigated.
Why we excel:
In addition to Managing Director supervision on each engagement, UHY Advisors offers systemic advantages in the process of documentation of internal controls:
- Throughout the internal audit, we schedule bi-monthly meetings with all concerned parties—the client team, outside auditors, and ourselves, to ensure workflow and communications are optimized. Again, this is at the highest level of our organization, so our experience can be directly applied to your audit. This constant communications allows for testing of controls within 90 days of year-end as called for by the Sarbanes-Oxley legislation, and avoids any unnecessary “fire drills” close to year-end.