SYSTEMS CONTROL

Internal Control

For many small and mid-sized businesses and entrepreneurs, internal control may largely be associated with control activities over financial reporting, such as bank reconciliations and expense reimbursement approvals.  While these are important actions, our standard of assisting businesses with internal control includes full consideration of a healthy and robust system of internal control as it relates to financial, operational, and compliance objectives.  We believe a 'tone at the top' of ethics and integrity to be foundational and necessary for all other aspects of successful control within an organization.

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Similar to our approach with enterprise risk management advisory, we focus on an integrated view of internal control, encompassing relevant considerations of the control environment, risk assessment, control activities, communication, and monitoring activities.  

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We know that true internal control can not be in place without a holistic and intentional approach.  Organizations and individuals that prioritize and understand the inter-relations between business management and an integrated system of internal control can increase their strength, value, and longevity.  

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LEACIF assists and advises businesses and individuals with the design and implementation of an integrated system of internal control, encompassing the concepts and objectives found in both professional standards and established frameworks and criteria.

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Supply Chain System and Organization Controls

System and organization controls (SOC) for supply chain considerations may be a relatively new concept by formal definition, however manufacturers, distributors, and producers are none the less aware of the need for structured control over their supply chain functions.  However, they may not always know how to get there.  LEACIF's approach is to help your organization analyze and define supply chain descriptions, objectives, risks, and controls, in order to expand the tools available for better management decisions and reporting, as well as third-party interactions.

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Through our Supply Chain SOC advisory services, we assist organizations with understanding relevant system description criteria and control criteria.  In doing so, we incorporate the consideration and use of the guidance found in description criteria published by the AICPA, as well as relevant Trust Services Criteria of security, availability, processing integrity, confidentiality, and privacy related controls.  For organizations with already established standard operating procedures, we also assist with mapping and summarization of components to be in alignment with the framework criteria.

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Internal Assurance

For businesses in need of scalable internal assurance functions and control activities over financial reporting and compliance requirements, we assist clients with customized inspection, testing, and monitoring services to help entity management in their role in carrying out control activities.

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Stakeholder and Third-Party Controls

Do you want to enhance your business's control and confidence when working or forming relationships with internal and external stakeholders and interested third-parties?  We can help you create, define, and implement considerations and processes as they relate to:

• Vendor management and customer acquisition and retention;​

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• Business partners, including managing owners, investors, and lenders;

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• Hiring and internal development.

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Consistent with the overall components of internal control, we assist our clients with establishing a healthy control environment, risk assessment process, control activities and safeguards, communicating information, and monitoring procedures as they support the above stakeholder interactions in alignment with their business's, or entrepreneurial goals.  For many of our clients, this starts with defining and communicating their organization's intended and desired tone at the top, including core business values and visionary expectations. 

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Cybersecurity System and Organization Controls

SOC for Cybersecurity continues to be a leading area for improvement and increased consideration for most businesses and entrepreneurs.  Our experience allows us to lend unique perspectives and skill sets in this area.  Learn more by visiting our Cybersecurity Advisory services page.

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