Financial and Internal Control Consulting

It is the set of policies and procedures ensuring transactions are recorded correctly and resources are safeguarded. Without it, financial information depends on the memory of whoever prepares it — and that does not survive external scrutiny no matter how correct the figures look.

It defines who does what, who authorizes what and to whom each area reports. It prevents duplication, gaps in responsibility and — most importantly — one person concentrating incompatible functions, which is where most internal losses originate.

They are the International Financial Reporting Standards. They become relevant when a company seeks foreign investment, international credit or consolidation with a group that applies them. If your horizon includes any of those, aligning early beats doing it under pressure.

Because the first thing a financial institution reviews is the financial statements and the quality of the information behind them. Orderly processes and defensible figures strengthen your position to negotiate amount, term and rate; improvised information weakens it.