Internal Controls

Building internal controls capabilities and creating foundation for a strong controls culture

How to leverage this case?
This case highlights Deloitte’s approach to training – make it understood, easy, desirable, rewarding and make it a habit. A mix of sessions were conducted with stakeholders across the globe, including train-the-trainer elements for control champions. The project leveraged Deloitte’s internal controls capabilities and experience with building a controls culture and strengthening controls capabilities.

Situation
The client wanted to ensure a solid understanding of internal controls before implementing its Internal Controls Framework. This included boosting the controls culture, motivation and buy-in from both group level and Shared Service Center in particular. The aim was to strengthen internal controls through a shared foundation and understanding as well as to increase level of internal controls competencies.

Approach & solution
Deloitte helped establish an Internal Controls Framework in the form of the ‘Annual Cycle of Work’. We conducted specific training in internal controls using Deloitte’s Control Intelligence game, which is built upon the Annual Cycle of Work and COSO. In addition, the sessions included hands-on and interactive training in internal controls, especially around methodologies and practical application. Participants consisted of Shared Service Center, Head of SSC, Internal Audit and selected corporate functions. Approximately, 40 participants (in part one). Afterwards, a management session was held with the CFO and approximately 15 leaders across the world.

Benefits
All participants developed an understanding of risk and controls methodology, practical application and their role in maintaining a strong controls culture and controls environment. They gained insights into how to balance resources, costs and other projects with controls, to ensure that risks are mitigated effectively, and changes are managed properly. A shared understanding was built across the organization, including the management level, that internal controls are a natural part of the day-to-day activities, a teamwork and a part of the culture.

Contact us

Kristina Wiese Tranberg

Partner

Martin Wang Nexø

Director

Gemma Avery

Senior manager