Internal Control Reviews & Risk Assessments
HOPTOM understands that performing independent internal control reviews is important for any organization, even those that do not have to comply with Sarbanes Oxley. HOPTOM’s consultants are experts at internal controls, and can help your organization with internal control review, gap analysis, remediation plan, and much more.
Fraud can ruin the reputation of any organization, and can be perpetrated by almost any personnel in the organization acting individually or collusively. HOPTOM can efficiently assess the likelihood of fraud in the different areas of any organization, and help management develop safeguards to mitigate the risks.
Unlike our competitors, HOPTOM does not have a one size fits all mentality. Rather, we take the time to understand your business, and tailor our approach to provide a customized solution providing maximum effectiveness and efficiency at a reasonable price. Depending on the needs of your company, we can assist with implementation, reviews, and assessment of control effectiveness.
Control Implementation
Many businesses have never thought about "internal control," and how it can affect their organization. Concepts such as fraud controls, segregation of duties, authorization of transactions, reconciliations, policies and procedures, and good governance have not been adequately addressed in many organizations, because they are not seen as fundamental to the business. However, it is clear that in today's environment, a good internal control environment is imperative for companies looking to take their businesses to "the next level."
Control Reviews
There are some businesses that have implemented good internal controls as a matter of running a successful business. However, because the owners, board of directors, or executives might be removed from the details for various reasons, they may not realize that the controls are not functioning as designed or intended. HOPTOM uses a top-down risk based approach to provide our clients assurance that the controls in place are designed appropriately to fully address the identified risks to the company.