Financial and Operational Controls Improvement
As companies are required to comply with various statutes requiring reporting on the effectiveness of financial reporting controls, they often struggle with efficiency issues. In fact, almost 80 percent of CFOs surveyed by Financial Executives International in 2007 said that the costs of Section 404 compliance have outweighed the benefits.
ParMan Consulting can support clients in reducing the costs of compliance by up to 60 percent, and improve internal controls and the quality of the key upstream business processes that affect financial reporting.
Our main approach to achieve the compliance cost reduction is the "top down risk assessment" of your processes in scope and elimination of control duplications.