Big or small, public or private, service or manufacturing, for profit or not for profit, all companies need strong internal controls. A few reasons to have strong internal controls are:

- to ensure rightful pay off to shareholders, owners or stakeholders
- to create a control environment where there are no opportunities for fraud, theft or other similar acts
- to protect organization's assets
- to monitor and keep costs under control
- to comply with regulatory requirements, such as the Sarbanes-Oxley Act
- to ensure customers and other external parties that your organization's processes are performed in a transparent and well conducted way

Conducted as an integral part of enterprise risk assessment or as a separate projects / initiatives; our internal controls reviews focus on:

- Assessing the materiality of internal controls under review to determine the scope priority for review;
- Updating /developing, as applicable, control documentation (matrices, testing work papers, issue logs, etc);
- Assessing the control design effectiveness and identification of potential gaps that may hinder the achievement of control objectives;
- Testing of control operational effectiveness and identification of potential operating deficiencies;

- Identifying:
  - automation procedures for manually intensive controls
  - opportunities for possible standardization and centralization of controls
  - opportunities for controls optimization (number, complexity)
- Providing practical and appropriate recommendations on control weaknesses to fit your organization size, complexity, resources

Any changes that occur in your organization implicitly affect your internal controls system. Therefore, internal controls efficiency needs to be confirmed through regular reviews and testing procedures. Pegas specialists can help you assess the efficiency of your internal controls and improve or develop new controls, as appropriate.