International statutory regulations force Businesses to implement integrated internal control systems to manage their efficiency
Irrespective of the size or the industry a business operates, it has to cater for process risks and how to mitigate them, plan for measures and controls to ensure internal or external compliance, conduct and document audits, implement controlling processes and ensure a smooth operational performance all along. Adopting an integrated approach to Governance, Risk and Compliance (GRC) creates a fine balance between “being in business” and “being in control”.
SPIRIT provides leading audit, risk and compliance solutions and expert insights to enable businesses to link and align regulatory developments with internal policy systems, organizational risks and controls, and regulatory training – thereby developing a cohesive, proactive approach to Governance, Risk and Compliance. Our proposed solution is flexible enough to easily accommodate new legislation and standards.
Drawing on a profound experience in process analysis and implementation initiatives, we analyse your business’s operation, identify potential risks and help you develop internal process-driven checks. The subsequent definition and implementation of a process-driven, workflow-based solution for auditing and controlling is supported by specialized software.
The internal control system developed supports the entire end-to-end process of testing, control and documentation (e.g. scheduled tests; management of reports and test results; capability to check status of overall business compliance; issue and deficiency management). Intrinsic process-checks continuously test both the control system and the control processes in place, to guarantee their validity. The system also supports businesses in the preparation, planning and execution of internal or external audits, enabling accurate management reporting via an up-to-the-minute dashboard.