“Pensapos helps you to determine your key business risks, implement appropriate levels of internal controls, and performs periodic testing.”

As a member of the Association of Internal Control Practioners and experienced in Sarbanes Oxley, Pensapos provides expert advice in all areas from developing a Risk Management System, building controls appropriate to your business size and industry, perfoming periodic testing, and developing remediation plans through to ongoing management.

Risk Assessment

Risks management is a structured process of identying your risks (internal, external, operational, and strategic), determining their significance (high, medium, or low risk), deciding what appropriate control measures are needed, maintaining those measures over time, and periodically review those internal controls to ensure they are still relevant.

The challenge for many is how to make sure that risks are assesses in a cohesive way, along clearly established lines of authority and accountability, and with each operational unit pursuing the interests of the business as a whole.

Pensapos will work with individuals at all levels of your organisation from business operation owner up to the Board of Directors, helping you to:

1. Review corporate strategy and plans, and validate risks.
2. Review financial reporting objectives.
3. Develop a Risk & Control policy consistent with the COSO framework.
4. Indentify appropriate controls and design reporting and testing plans.

Internal Controls Management

Once business risks have been identified and appropriate internal controls systems have been agreed and designed, it is time to put them into operation with a process of testing and reporting.  They need to be rigourous only enough to ensure that your risks are being managed.  Whilst many business neglect internal controls because they are over cumbersome, this need not be the case.

Pensapos will help you to:

1. Perform periodic testing of your internal controls.
2. Report on the effectiveness of these controls to your Board of Directors and Audit Committee.
3. Indentify potential areas where remediation needs to take place.
4. Recommend changes to the internal control framework if improvements can be made.

Areas of Expertise.

Whilst a large element of your risk and internal controls system will be financially focused, Pensapos can also provide practical support in internal controls within Information Technology, Information Systems, HR, Procurement, and all other operational activities.