Controls Advisory and Implementation Services
Design and implement controls with AI, automation, and analytics
Today’s internal controls simply need to do more. Organizations are harnessing new technologies and ways of working for a more comprehensive view of compliance and associated risks. Deloitte’s controls advisory and implementation services use a risk-based approach to help companies modernize their controls to keep up with evolving standards and achieve better business outcomes.
The growing complexity of internal controls
Do you feel your organization is losing ground due to its financial controls? Are your internal controls becoming disconnected with other areas of your business? Maybe you feel over-controlled? As companies take on more digitally enabled functions, it’s critical to complement new business capabilities with a controls framework that supports effective and efficient compliance. And that framework still needs to provide a foundation to carry out day-to-day activities.
But modernization of internal controls comes with no shortage of roadblocks, including organizational silos, budgetary constraints, legacy operating models, absence of technical skills, and an often-overwhelming amount of enterprise data.
Financial leaders can take steps today to rethink and revamp their organization’s approach to controls and compliance by leveraging the game-changing capabilities of technologies like robotic process automation (RPA), artificial intelligence (AI), and data analytics. Doing so can help their organizations keep pace with organizational growth, evolving regulations, and cultural shifts while protecting business value and generating new insights.
Controls modernization focuses on helping organizations transform their internal controls programs using three levers:
- Operating model optimization
- Program enhancements and process redesign
- Technology and automation
We focus on lowering the total cost of controls through the following:
- Technology enablement: Put controls on the offensive, replacing control frailties with a smarter, faster, and more efficient end-to-end controls environment.
- Deficiency remediation and targeted risk mitigation: Redesign business processes and implement internal controls to remediate known deficiencies. This also includes mitigating procedures and analytics to limit the exploitation of risks.
- Internal control governance and compliance: We can aid in advising on design, implementation, and operation of financial and IT controls. This also includes facilitating control programs on behalf of management.
- Internal control program optimization: Refresh and redesign internal controls to better and more efficiently address risks.
- Testing execution: Leverage alternate delivery models to effectively execute testing or performance of controls on behalf of the first or second line of defense to confirm that controls are operating effectively.
Transformation assessment services and Assurance by Design
Whether it’s an enterprise resource planning (ERP) migration or an M&A transaction, significant business transformation initiatives come with significant controls implications. Our transformation assessment services can give executives and other stakeholders an enhanced view of their internal controls environment. We can also incorporate our Assurance by Design methodologies during large-scale transformations and IT system implementations, including the following:
- ERP system implementation
- Security redesign
- Shared service center migration
- Moving IT infrastructure into the cloud
- Business divestiture or acquisition
- Business changes resulting from new regulation
- Digital transformation
We can help you conduct deep searches to identify potential issues early. With that foresight, you may be able to avoid costly controls-related delays, defects, and breakdowns that may otherwise surface later. Additionally, our Assurance by Design feature extends these services to the design and implementation of controls functions using digital tools and other leading practices to improve controls resilience and realize efficiencies upon launch. A typical transformation assessment related to a business event or change includes understanding and assessing the potential impact of the event and advising on the following:
- Business processes and controls change
- IT system scoping (new or modified systems)
- Policy or internal control gap assessments
- Automated controls updates, redesigns, or new implementations
- Reports used in performance of relevant internal controls
Why Deloitte?
- Deloitte takes a technology-driven approach to help our clients enhance their governance, risk management, compliance, and financial control security, quality, and inspection.
- Our deep subject-matter knowledge and specialized experience allow us to provide significant insight into the process and hit the ground running.
- We have an effective and efficient approach and demonstrated risk-based methodology that are focused on what matters.
- Our innovative tools facilitate seamless coordination and drive effectiveness and efficiency.
- We offer a flexible and scalable approach that aids the readiness assessment and reduces internal disruptions throughout execution.
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The services described herein are illustrative in nature and are intended to demonstrate our experience and capabilities in these areas; however, due to independence restrictions that may apply to audit clients (including affiliates) of Deloitte & Touche LLP, we may be unable to provide certain services based on individual facts and circumstances.
