Objectives and Benefits of an Internal Control System
Risk Management: Identify, assess, and manage risks related to operations, finance, and compliance, ensuring stability and integrity in business activities.
Ensuring Compliance: Adhere to laws, regulations, and standards to prevent legal and regulatory risks.
Operational Efficiency: Optimize processes, standardize tasks, and reduce redundancies to enhance performance and minimize waste.
Financial Statement Verification: Ensure the accuracy and reliability of financial statements, which is crucial for maintaining investor confidence and supporting business decision-making.
Quality Assurance: Ensure products meet established quality standards by reviewing and updating controls to align with industry standards and customer expectations.
Cost Savings: By preventing errors and fraud, as well as optimizing operations, an effective internal control system can significantly reduce costs.
Fraud Prevention and Detection: A well-designed internal control system minimizes fraud risks by implementing stringent monitoring and verification measures.
Enhancing Operational Effectiveness: Internal controls help optimize business processes, improving productivity and efficiency.
Improved Decision-Making: An effective internal control system provides accurate information, enabling management to plan strategically and make timely decisions.
Reputation and Trustworthiness: Maintaining high levels of compliance and operational integrity enhances the company's reputation among stakeholders, including investors, customers, and regulatory authorities.
COSO 2013 Internal Control Framework
Services
Internal Control System Assessment
Evaluate internal controls based on the COSO Framework, identify weaknesses, and recommend improvements to enhance efficiency, compliance, and risk management.
Evaluate internal controls based on the COSO Framework, identify weaknesses, and recommend improvements to enhance efficiency, compliance, and risk management.
Professional Advisory Teams: Our advisory teams have accumulated a wide range of professional knowledge and experience in business advisory. Our strength does not only come from Crowe Vietnam's experts but also experts of Crowe Global's members, creating favorable conditions for us to have effective solutions for the clients, thanks to the effective combination of in-depth knowledge in Vietnam and international experience. We are confident that clients will feel secured with our advice and solutions.
Efficient Local Resources: Besides, we have developed a strong base of local resources, including a thorough understanding of the local business practice and environment and a strong relationship network with local authorities, business partners, and experts. We strongly believe that these valuable resources will significantly contribute to the success of the solutions provided to our clients.
Deadline Commitment: We understand that having deliveries well completed as the schedule is always a crucial requirement. Therefore, we strictly monitor the progress and timely solve any issues incurred.
Competitive Fees: we always listen to your cost concern and will, together with you, keep it under control. We always try to save costs for clients as much as possible by applying technology in processing data and preparing reports.
Service quality: Crowe Vietnam have built up the “Set of Service Standards” and committed to delivering them at the highest level, for more details click here