Corporate GOVERNANCE CONSULTING GROUP

In the wake of Enron and WorldCom, companies today are facing unprecedented expectations from regulatory agencies and shareholders for their corporate governance. Anchin’s professionals have helped their client companies meet and exceed these expectations. Our experience and field proven methodology help our clients reach beyond compliance to achieving efficiencies in operations and creating value throughout their organizations.

Anchin professionals have worked with many organizations in diverse industries to assess, design and implement effective processes and internal control frameworks. Our proven methodology identifies the material financial reporting components, documents the processes, risks and controls impacting those material processes, and documents the evaluation of the key entity and activity level controls.

Our Approach

• Phase I (Assess present operating state and identify significant processes) - Identify significant processes and points of origin using publicly filed reports.
• Phase II (Document design and evaluate critical processes) – Using standard templates, document and assess current state of these processes, including relevant risks and controls, and the roles and responsibilities of all responsible participants.
• Phase III (Remediation) – Recommend and design process improvements to facilitate management reporting and issues management. Facilitate the roll-out of improvements by developing training guidelines and documentation.
• Phase IV (Testing & Evaluation) – Using statistical sampling models, test all significant control activities for design and control effectiveness.

This methodology fosters a process of continued improvement of the control framework.

• The identification, documentation, and continued monitoring of material processes and business cycles is essential in demonstrating managements implementation of an effective internal control framework;
• The detailed analysis of critical business cycles may reveal redundancies and provide management with opportunities for increasing operational effectiveness.
• Assessing risk and mapping them to the relevant control activities provides those in control the ability to manage these critical business processes more effectively.

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