Internal controls - reviewing, reporting and assurance
Whether you are still in the 'wait and see' mode, or have started commencing programmes to implement or improve your controls framework, there are still some unknowns on how businesses will need to respond to some of the anticipated UK Corporate Governance Reforms. In this episode, Richard Andrews, Partner for our Financial Services Consulting, and Irene Sellars, Partner and Head of Controls Assurance will talk through regulation, controls, and assurance, and why well implemented internal controls programmes should be at the top of your agenda to keep ahead of the curve. Listen as our experts delve into the scope of the FRC changes, where businesses should be focusing on to build out their control frameworks, industry examples, why businesses should be thinking about this now, and what this means for boards and investors. References: Service Organisation Assurance Reporting (SOAR) - KPMG United Kingdom Internal controls | What can assurance cover? | ICAEW Information for management of a service organization in a SOC 1® engagement (aicpa.org) 2017 Trust Services Criteria (With Revised Points of Focus – 2022) | Resources | AICPA