How to leverage your Control System?
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Wednesday, 15 July 2009
From the desk of Dr. Anne-Katrin Straesser
Dear Colleague,
Do you wonder how to implement and improve internal control systems
that are not only effective but also cost effective?
More and more countries bring regulations into force that require the
documentation and assessment of a company's internal control system.
Often, there is a range of activities to be undertaken in order to
comply with the new regulations. BUT - and that's the good news - it
does not have to be difficult. And it can also bring the company loads
of benefits and competitive edge when being addressed correctly.
However, there are a few things to be considered to avoid spending
vast amounts of money that do not bring return.
Based on the experience of implementing, optimising and auditing
several companies' internal control systems, such as the US SOX, this
book reveals the secrets to a successful and cost effective
implementation and maintenance of an internal control system.
This book not only explains METHODS BIG4 FIRMS USE WHEN IMPLEMENTING
AN INTERNAL CONTROL SYSTEM but also ways how you can CUT ON AUDITING
AND CONSULTING FEES and IMPROVE YOUR ENTIRE ORGANISATION!
The book "The 7 Secrets to Successful Internal Control Systems" gives
you STEP-BY-STEP INFORMATION how you can implement the whole system
while using minimum resources.
It shows you how you can utilise what is readily available in the
company and how to leverage it in order to self-assess your internal
control system. In a 5-STEP PROVEN SUCCESS FORMULA you learn exactly
what you need to take when implementing an Internal Control System
from scratch, from focussing on the important issues over forming the
optimum project team to writing a self-assessment report and
communicate to external auditors:
Step 1: Plan and Scope for Success
Step 2: Analyse and Leverage Existing Control Environment
Step 3: Remediate
Step 4: Conduct Self-Assessment
Step 5: Ensure Continuous Improvement
The book takes you step by step through the process and gives you
loads of HANDS-ON MATERIAL, like CHECKLISTS for all significant
processes.
The book reveals BEST PRACTICES from several years experience in the
work of internal control systems. It tells you what works and what
doesn't, where the BIG TRAPS are and how to get around them and
foremost: How to save costs and gain competitive edge.
The book contains a.a.:
The Main Control Issues Companies are facing
Benfits and Obstacles of Internal Control Systems
Explanations of the Five Control Elements of the COSO Framework
How to carry out Risk Assessments and what needs to be considered
How to Form a Strong and Powerful Project Team
How to Identify Accounts, Processes and Locations to be considered
in an ICS
How much Time is needed for the Compliance Project
How to Leverage Existing Process Documentation
The Best way to Document Controls
How to Perform a Walkthrough
What to Identify in A Gap Analysis
How to Add Value during Remediation
How to Conduct the Self-Assessment
How to Develop Test Plans
Examples of Risk Matrix, Flow Chart, Narrative and Test Plan
How to Test Manual and Automated Controls
How to Test the Other Components of the COSO Framework (Control
Environment, Risk Assessment, Information and Communication)
What should Be Included in the Self-Assessment Report
Ways to Continuously Improve the Level of Compliance
How to Improve Existing Processes and Cut Costs
How Culture and Integrity can Be Improved
What Should Be Included in an Effective Anti-Fraud Program
How to Form an Effective Audit Committee
Risks and Control Objectives of the Main Processes (Financial
Closing and Reporting, Treasury, Sales, Purchasing, HR and Payroll,
Fixed Assets, Inventories)
Risks and Control Objectives concerning Information Technology
And of course the
7 SECRETS TO PROFITABLE INTERNAL CONTROL SYSTEMS
The section deals with common and mostly quite costly mistakes that
have been made in former compliance projects. If you learn from those,
avoid them and use this knowledge you are able to stay ahead of your
competitors and improve profitability.
It outlines ways to cust costs and increase quality and customer
satisfaction with the help of an ICS.
Investment for this book is normally EUR 97,00 which is far less than
one hour consulting fee.
NOW FOR ONLY A SHORT PERIOD OF TIME AND BEFORE THE BOOK IS PUBLISHED
IN PRINT IT IS AVAILABLE ON THIS SITE FOR EUR 39.
The eBook is in pdf format and will be available for download in a
few seconds after the purchase.
As opposed to the print version, the eBook comes with special
bonuses, but only for limited time.
Bonuses no. 1 to 5 have been developed for compliance projects,
having a value of at least EUR 250,00 each, if you would have an
external consultant developing them for you. These bonuses alone would
add up over EUR 1,250.00 worth in consulting fees.
Here are the bonuses, that are only available for a limited period of
time.
Bonus # 1 - Self-Assessment Checklist
Bonus # 2 - Test Plan Control Environment in Excel
Bonus # 3 - Test Plan Information & Communication in Excel
Bonus # 4 - Test Plan Monitoring in Excel
Bonus # 5 - Template Risk Assessment in Excel
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