Internal Control & Policies Reviews

Strong Internal controls are critical in safeguarding the organisation’s assets, minimizing fraud, improving effectiveness and efficiency of business processes. All assurances (internal and external audits) depend on there be sound controls.

Control environment is dynamic due to changes in ecosystems, business models, and adoption of technology, thus Internal controls have to be reviewed from time to time. It is the responsibility of the Board to annually assess the effectiveness of the Internal controls, and report in the Annual Integrated Report the position of Internal controls, in the Internal Controls Statement. It is therefore prudent to use services of HLB Lesotho to assist in regular review or assessment of internal controls. In the process we check the adequacy, effectiveness and efficiencies on internal controls. We also help document such controls in form of internal control process maps.

As part of Internal Control Environment of the organisation, the policies framework that supports internal controls must be strong to restrict illicit or improper actions and to enable within the risk management and governance frameworks, strategic and operational activities to be undertaken. We assist in checking adequacy, effectiveness and efficiency of the internal control processes.

Assurance providers, such as internal auditors and external statutory auditors will often raise audit issues in the management letter. We can be engaged to assist the organisation’s management to deal with and close such matters, where management may not have time to do so, or where issues are complex to deal with. Through our Accounting Practice, we may help to deal with long-standing reconciliations, and suspense accounts.

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