Financial Control
Businesses need to have the right controls at the right cost. The right controls are those that mitigate risk in an efficient and cost-effective way and are supported by a culture of controls awareness and monitoring. Financial controls drive improved business performance, helps to manage complexity and achieves effective governance, regulation and compliance.
ALaS can help clients to establish the right controls at the right cost. Potential issues that clients may face include:
- A controls breakdown which requires assistance to stabilise (Reconciliation Out of Control)
- Help dealing with organisational complexity and handling multiple project and controls requirements
- Significant business change resulting from M&A activity or new systems implementation and the need to improve business control
- The need for an integrated approach to regulatory compliance, financial controls and operational reporting
ALaS can assist with ensuring controls are in place and bring best practice from our experience of working with other clients.Our offering in this area includes:
- Assessment – perform a risk assessment and analyse the current internal control environment at the corporate, business process, and IT systems level
- Controls improvement - implement recommendations to optimise controls, i.e. address gaps, rationalise, automate and standardise controls
- Process improvement - identify opportunities to improve existing business processes, systems and controls which will reduce cost, improve risk management and drive real business benefit