Internal Control Review

Who this engagement is for

Finance directors, CFOs, and internal audit sponsors at companies with operations or reporting in Hong Kong who need an independent look at whether stated controls actually operate — before a statutory audit, a board deep-dive, or a lender covenant review.

Result you can expect

You leave with a findings register ranked by financial exposure and likelihood, annotated walkthrough notes for each in-scope process, and a remediation sequence with suggested owners. The report is written for management and the audit committee, not as a marketing scorecard.

Scope — included

• Kick-off scoping call to select processes (for example purchase-to-pay, order-to-cash, payroll, treasury, inventory cut-off, or period-end close)
• Policy and procedure read-through against how staff describe actual steps
• Sample testing of transactions and system access evidence for key controls
• Interviews with process owners and a sample of preparers and reviewers
• Draft findings discussion before the final register is issued
• One follow-up call within thirty days to clarify remediation questions

Scope — excluded

• Statutory financial statement audit opinions
• Full IT general controls certification for all systems
• Implementation of new accounting systems or writing of entire policy manuals
• Fraud investigation with forensic evidence collection (we can refer if indicators appear)

How we work

Fieldwork mixes document review from our Central base with time on your floor. We prefer watching a reconciliation being performed over reading a desktop procedure alone. Findings cite the control objective, the evidence examined, and the gap — not vague “culture” commentary.

Duration and location

Most single-entity reviews with three to five processes finish in four to eight weeks, depending on document readiness and meeting availability. Multi-entity groups or heavily manual environments take longer; we state that in the proposal.

Preparation we ask of you

• Named sponsor and a day-to-day contact in finance
• Access to relevant policies, organisation charts, and sample transaction lists
• Scheduling windows with process owners during the testing fortnight
• Clarity on any concurrent auditor or regulatory deadlines

Fee basis

Quoted as a fixed fee after scoping. Fee reflects number of processes, locations, and whether prior-year findings already exist. Deposits and payment timing are set out in the engagement letter.

Next step

Request this engagement with the processes you want examined and your target reporting date. We respond with a draft scope and fee range within two business days.