WHY SBXC© Control?
An accounting system captures data for the purpose of financial reporting while internal control is the measures that are put in place to facilitate financial reporting and safeguard corporate resources and information. Business owners and owners are typically responsible for the lengthy development and implementation of accounting and internal control procedures.
As part of the audit process, the auditor may also seek to review the effectiveness of the firm's internal controls. A disclaimer or adverse audit opinion might lead the business to technically default on its debt, angry shareholders, and even disqualify the business from obtaining much-needed financing. So, accounting and internal control procedures have to be rigorous and implemented across the board, and we are here to help.
Access to Capital Market
An unqualified (clean) audit opinion is one of the prerequisites before financing can be obtained. And before the opinion can be given, the business would have to possess a rigorous accounting and internal control process that can be earned, the firm's internal control procedures may be tested by the auditor.
Decision-Useful Accounting Data
Robust accounting and internal procedures facilitate the capture of timely, consistent, and high-quality data that is useful for business decision-making and facilitate the financial analysis and planning process.
Safeguard Corporate Resources
Methodical accounting and internal control procedures are the cornerstones of an organization's risk management. It helps deter and detect frauds while reducing unintentional error through checks and balances.
WHO ARE WE?
Our products are created with sustainability at its core. They facilitate the creation of sustainable returns
We think out of the box to come up with innovative and inspiring solutions to meet your business needs.
We are specialists in our fields and we are passionate in what we do. It is reflected in the work we deliver.
Engage us on-demand, save on costly overheads and get everything done online with minimum fuss.
WHAT IS INCLUDED IN THIS REPORT?
SBXC© Control is designed for business owners and managers who seek to outsource the costly and time-consuming design and implementation of accounting and internal control procedures. The process is highly consultative as disclosures of corporate information and organization procedures are needed. Any disclosed information will be kept in the strictest confidence.
This process starts with a consultation to find out more about the company's operating, investment and financing activities, as well as approximate the firm's risk appetite. The objective is to meet the firm's operating needs, as well as to strike a fine balance between operational efficiency and bureaucratic red tapes.
This process then continues with the engineering of the firm's accounting and internal control procedures, with the goal of designing processes that, principally, meet the regulatory requirements. The procedures should also ideally strike a balance between operational efficiency and the level of oversight.
After the procedures are approved, we can facilitate the awareness, implementation and training of key stakeholders should you require further assistance in this key area.
Risk management contains key risk factors that were disclosed by the managers of the organization, as well as uncovered over the course of the project. A risk management plan will be written to address the countermeasures to mitigate and hedge against potential accounting and internal control failures.