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Internal Financial Controls over Financial Reporting

Helios has helped several clients with their Internal Financial Control needs. The services includes Analysis and Reviews of processes. Analysis type of engagement helps understand key policies of the company, study defined and enforced standard operating procedures and design and implement an optimized control environment and ensure compliance with statutory and regulatory norms.

How it can help the client ?

Internal financial controls are very critical, because they establish necessary safeguards to an organization’s assets and minimize the opportunities of committing fraud and allowing errors to go undetected in an organization’s daily operations. Financial controls play an important role in ensuring the accuracy of reporting, eliminating fraud and protecting the organization's resources, both physical and intangible by focussing on high risk areas.

These internal control procedures reduce process variation, leading to more predictable outcomes. Robust and effective internal financial controls facilitate reduction in the risk of asset loss, and help to ensure that the plan information is complete and accurate, financial statements are reliable, and the plan's operations are conducted in accordance with the applicable laws and regulations.

Success Stories

Internal Audit, Internal Financial Controls and Cost Optimization for a publicly listed Manufacturing company into Forging and Auto-components

The client, an India based Forgings and Auto components company, needed help in their Internal Audit, Internal Financial Controls and Cost Optimization programs.

1. Specialized Internal Audit of various areas.

2. Review of financial mapping, processes and internal controls in respect of Inventory, reconciled inventory data in SAP, valuation of inventories, authorization matrix for inventory controls (including manual logs), financial trail and overall impact on the inventory on the financials and recommended Best practices.

3. Cost reduction program along with analysis of optimum costs for scenario levels of business activity.

1. Identified cost savings of US $ 6 Mn 2. Also additional optimization opportunities were further identified.

We are a management consulting firm with deep experience of working with clients achieve excellence in their transformation journey. Every client is unique and we are passionate about helping them unlock significant business value. Helios brings industry and functional focused capabilities to the clients to power the transformation efforts. We work with dedication and take actions to deliver results for the clients. We are passionate about ensuring that our clients transform their processes and have the opportunity to become leading players in their sectors. Our aim is to work with the client teams to inculcate a culture of continuous improvement so that they constantly improve which helps them to outperform their peers.

Address

Shivchaya, 60, Erandwane, Pune, Maharashtra 411004

Monday – Friday

10 AM – 6 PM (IST)

Services

© 2024 All rights reserved by Helios Consulting

Designed & developed by Hans Creation

We are a management consulting firm with deep experience of working with clients achieve excellence in their transformation journey. Every client is unique and we are passionate about helping them unlock significant business value. Helios brings industry and functional focused capabilities to the clients to power the transformation efforts. We work with dedication and take actions to deliver results for the clients. We are passionate about ensuring that our clients transform their processes and have the opportunity to become leading players in their sectors. Our aim is to work with the client teams to inculcate a culture of continuous improvement so that they constantly improve which helps them to outperform their peers.

60, Shivchhaya, Erandawane, Pune, Maharashtra 411004

Monday – Friday 10 AM – 6 PM (IST)

Services

© 2024 All rights reserved by Helios Consulting

Designed & developed by Hans Creation

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