Internal Financial Control Review (ICFR) is a structured assessment of an organisation’s financial processes, control environment, and reporting mechanisms to ensure accuracy, reliability, and compliance. ICFR focuses on evaluating whether financial transactions are properly authorised, recorded, and reported, and whether controls are effective in preventing errors, fraud, and misstatements.
A robust ICFR framework strengthens governance, enhances transparency, supports statutory compliance, and provides assurance to management, investors, and regulators that financial information is trustworthy and well-controlled.

1. Comprehensive Understanding of Financial Processes

We bring deep expertise in evaluating end-to-end financial workflows—procurement, sales, payroll, inventory, treasury, and month-end closing—ensuring no control area is overlooked.

2. Risk-Based and Standard-Aligned Approach

Our methodology aligns with statutory requirements, COSO framework, and industry best practices. We identify high-risk areas and prioritise controls that have the greatest impact on financial reporting.

3. Detailed Control Testing & Documentation

We conduct thorough walkthroughs, control testing, sampling, and validation to assess both design and operating effectiveness. All findings are supported with proper documentation and evidence.

4. Identification of Control Gaps & Improvement Opportunities

We highlight weaknesses, inconsistencies, and process failures, along with practical and implementable recommendations to strengthen your ICFR framework.

5. Expertise in Automation, ERP & System-Driven Controls

Our team reviews system configurations, user access rights, segregation of duties, and automated checks to ensure that both manual and IT-enabled controls operate effectively.

6. Clear, Action-Oriented Reporting

Our reports provide clear insights, root-cause analysis, impact assessment, and prioritised improvements—helping management take timely and informed decisions.

7. Strong Support for Statutory & Regulatory Compliance

We ensure your ICFR complies with the Companies Act, audit requirements, and applicable reporting standards, reducing exposure to compliance risks or qualifications.

8. Independent, Objective & Confidential Review

Our assessments are unbiased, confidential, and designed to provide transparent and accurate insights that strengthen your organisation’s control environment

Internal Financial Controls Review (ICFR)

Internal Financial Controls Review (ICFR)

Why to Choose Us for ICFR