Contractor business systems and internal controls
We help clients:
- Document business processes, from transaction inception through conclusion
- Identify, understand and document business and compliance risks relative to those processes
- Analyze internal control activities and make recommendations to improve balance of automated vs. manual, preventive vs. detective controls, etc.
- Analyze types of internal control activities and recommend improvements to the balance of automated vs. manual, preventive vs. detective, etc.
- Identify internal control design gaps
- Brainstorm and develop new or improved controls to remediate design gaps
- Prioritize internal control activities based on their relative risk mitigation role (i.e., not all internal controls are created equal)
- Develop a road map between their internal control framework and the government’s audit work plans
- Draft policies, procedures, templates, and other tools to improve current controls and implement new controls
- Define and document employee roles, responsibilities and authorities within each business system
- Develop and deliver tailored training to business process owners and participants
- Prepare self-assessment and internal audit work plans to facilitate periodic management monitoring of business system effectiveness
- Perform mock system audits
- Manage the government audit process
- Rebut audit findings, negotiate resolutions and remediate matters requiring corrective action