Internal control of financial reporting

Build an effective in-house system for internal control of financial reporting to ensure accuracy and reliability.

SCHNEIDER GROUP’s consultants will analyse your internal documentation, accounting and reporting processes, help identify and eliminate gaps and weaknesses in control procedures to ensure the reliability of financial reporting and optimise risk management processes.

Establish an internal controls system that not only satisfies legal requirements, but supports the achievement of your business objectives. We will:

  • Analyse the existing control processes and procedures
  • Offer practical recommendations for improvement
  • Organise implementation or additional setup of accounting and/or ERP solutions to facilitate necessary processes and control procedures
  • Regularly monitor the sufficiency and effectiveness of implemented control procedures

What you get

INDEPENDENT EVALUATION OF PROCEDURES
We will not just review corporate documentation describing your internal controls system, but also interview employees involved in accounting and reporting processes. We will analyse task allocation among them and the effectiveness and adequacy of control procedures. We will provide practical recommendations to address gaps and deficiencies.
COMPANY AND STAFF RISK MITIGATION
We optimise controls, eliminate redundant processes and develop missing procedures. We help reduce the risk of financial losses for the company, such as the absence of the date of prohibition to change data in 1C or non-compliance with the "4-eye" principle (e.g. authorisation of payments by one employee only). We also assess personal risks for officials such as the general and financial directors and chief accountant.
SET-UP AND AUTOMATION OF PROCEDURES
We will automate necessary control procedures using basic 1C tools and our in-house developed add-ons for 1C, such as spot-check reports on the state of accounting and tax accounting and the report "Prepayments to suppliers". We will connect additional modules to your existing 1C configuration, provide user training and undertake support for the implemented system.
SATISFACTION OF AUDIT REQUIREMENTS
We will help develop high-quality internal documentation on the internal controls system that is typically requested by auditors during regular mandatory audits. We will train your employees in the correct execution of control procedures for your business to successfully pass the audit.
SUPPORT FOR INTERNAL CONTROLS
We will provide methodological support to your internal controls department, including timely updates on relevant legislative changes that require adaptation of control procedures and information on best practices to organise controls based on our own experience.  
REGULAR MONITORING AND OPTIMISATION
If your business does not have in-house specialists, we will take on the internal controller function. We will not only help build an internal controls system, but also organise regular monitoring of the implementation of control procedures, analysing their relevance and adequacy.   

Why Schneider group

HANDS-ON EXPERIENCE
We offer practice-tested solutions tailored to the specific requirements and size of your business. Not only do we set up an internal controls system for all companies using SCHNEIDER GROUP's accounting services, but, like our customers, we also successfully undergo external audits on a regular basis.
MINIMAL COSTS - MAXIMUM EFFECT
We recommend proven tools that do not require significant implementation costs. We set up an internal controls system to help minimise the risk of financial losses and personal liability with minimal effort.  
COMPREHENSIVE SUPPORT
We support customers at all stages of building an internal controls system: we develop necessary documentation, take on the function of internal controllers and help to build our own internal control service as the business grows. We support in-house specialists.
INTERNATIONAL EXPERTISE
We help international companies ensure the integrity and manageability of their internal controls systems by adapting head office control processes and procedures to local legal specifics.
About SCHNEIDER GROUP

SCHNEIDER GROUP has been helping businesses to expand to new geographical markets since 2003, offering a full range of business support services: from developing strategy for successful market-entry to helping arrange or optimize accounting, reporting and financial planning processes and establishing efficient IT infrastructures.

500 top experts in 11 countries take care of all resource-consuming non-core business tasks, so our customers can focus on achieving their business goals. We offer services in Armenia, Azerbaijan, Austria, Belarus, Georgia, Germany, Kazakhstan, Kyrgyzstan, Poland, Russia and Uzbekistan, with minor regional variations. Get in touch via our contact form to request details of specific service packages available in your target country.

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