Internal Control Services
Internal control is a process, effected by an entity’s board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting and compliance (COSO Framework, 2013).
Effective internal control systems
  • Visibility
    Enables enhanced visibility and understanding of risks and potential likelihood and scale of impact.
  • Cost management
    Minimises the costs of risks consequences by building preparedness and resilience.
  • Information
    Provides timely and reliable information to the Board and management for agile decision-making.
  • Streamlining
    Streamlines, structures and formalises business processes, policies, procedures and practices.
  • Agility
    Enables timely and cost-effective responses to uncertainty in a constantly changing environment.
  • Integration
    Integrates governance, strategy, risk management and compliance processes for holistic organisational development.
How can LMC help
Internal control systems should be designed to be future-ready and anticipate where and how throughout the organisation things can go wrong. The key value of an internal control system is its responsiveness to existing and emerging risks that an organisation faces in its specific operational environment and internal and external cultural context. Designing and maintaining such a system is not a compliance exercise and requires resource. Yet, the payoff from an effective internal control system is manyfold manifesting in protected reputation, improved strategic alignment and performance, minimisation of potential losses and better service delivery to customers. We have the expertise to build in responsiveness and resilience into your internal control approaches.
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Internal control health checks
Agile and cost-effective health check of internal control system for high-risk business processes to provide management a rapid assessment of current state of play.
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Effective internal control systems
Comprehensive enterprise-wide design and implementation of internal control systems responsive to current and emerging risks including business-process diagnosis, walkthrough testing, control design and operating effectiveness evaluation and recommendation for deficiency remediation.
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Internal control design and assessment
Design of internal controls to address financial, operational and other risks across all business processes and assessment of their operating effectiveness using a proportionate and comprehensive testing methodology.
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Internal control over sustainability reporting
Design, implementation and assessment of internal controls to address risks associated with sustainability reporting process including related sustainability data processes.
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Internal control documentation
Development of comprehensive and easy-to-use internal control policies, procedures, manuals and instructions using various modes to enhance and simplify usability and motivate teams to pro-actively engagement in internal control systems.
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Internal control in AI-enable business processes
Business-process diagnosis and walkthrough, documentation of AI-related risks and controls, design and operating effectiveness testing using tailored methodology on the basis of NIST and COBIT frameworks.
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We make internal controls simple
Technical expertise
Our team has extensive and successful track record in implementing complex projects in establishing, assessing and enhancing risk management and internal control systems for large companies and SMEs.
We simplify complex systems so that your teams can focus on their objectives.
We listen collaborate with our clients on solution design.
Bespoke approach
Drawing from our experience and extensive risk and control libraries and foundational learning assets, we design systems, processes, internal controls and capacity-building programmes for each client on a case-by-case basis because every company and function is different and unique.
Agility and flexibility
LMC is well positioned to deliver tailored and contextualised solutions to out clients with agility and flexibility catering to the dynamic and challenging environments companies operate in. We adapt to changing priorities because we understand that the business environment and risks are not static.
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