Testing of Internal Financial Controls (IFC)

We provide comprehensive IFC testing services to help organizations validate the effectiveness of their internal controls and ensure compliance with regulatory requirements. Our testing approach is structured to evaluate whether controls are adequately designed, properly implemented, and operating effectively across key business processes.

Our IFC testing services include:

Planning and scoping of IFC testing based on risk assessment and materiality.
Walkthroughs of processes to confirm control design and implementation.
Execution of detailed control testing through sampling and substantive procedures.
Identification of control deficiencies and assessment of their impact on financial reporting.
Support in remediation planning and implementation of corrective measures.
Assistance with management and auditor reporting in line with Section 143(3)(i) of the Companies Act, 2013.

Through our IFC testing, organizations gain independent assurance on the robustness of their internal control framework, build stakeholder confidence, and ensure readiness for statutory and regulatory audits.

At Biznomics, we believe in forging long-term relationships with our clients, built on a foundation of trust, integrity, and excellence.

Testing of Internal Financial Controls (IFC)

Our IFC testing services include:

Planning and scoping of IFC testing based on risk assessment and materiality.

Walkthroughs of processes to confirm control design and implementation.

Execution of detailed control testing through sampling and substantive procedures.

Identification of control deficiencies and assessment of their impact on financial reporting.

Support in remediation planning and implementation of corrective measures.

Assistance with management and auditor reporting in line with Section 143(3)(i) of the Companies Act, 2013.

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