An Internal Control Review (ICR) assesses the effectiveness of a company’s financial, operational, and compliance controls. It helps identify process gaps, mitigate fraud risk, and ensure regulatory alignment. Whether mandated by law, stakeholders, or management, a robust internal control system is crucial for sustainable growth and governance.
MMG Consulting offers structured, insight-driven control reviews tailored to your industry, size, and compliance requirements.
End-to-end evaluation of key control areas including finance, procurement, HR, and compliance using a risk-based methodology.
Document and assess existing workflows and map control points to detect inefficiencies, redundancies, or compliance lapses.
Review internal control systems based on globally recognized frameworks including COSO and ICAI standards.
Evaluate high-risk areas like cash handling, inventory, vendor payments, and IT systems for potential fraud indicators.
Provide a practical action plan with control improvement suggestions and priority-based implementation guidance.
Set up frameworks for control testing, monitoring, and periodic review to ensure long-term effectiveness.
Understand the business structure, functions, and areas of concern through workshops or interviews.
Collect SOPs, transaction logs, organizational hierarchy, and map current workflows and approvals.
Test the effectiveness of current controls and highlight lapses, redundancies, or non-compliance.
Submit a detailed internal control report with risk ratings, red flags, and improvement roadmap.
Assist in implementing controls, designing SOPs, and training staff on compliance best practices.
Our reviews are led by experienced professionals with deep domain knowledge in auditing and controls.
We don’t just flag issues—we help you implement controls that are realistic, scalable, and cost-effective.
Customized review frameworks for manufacturing, tech, real estate, BFSI, and other key industries.
Enhance your company’s credibility during external audits, board reviews, or investment rounds.
We assess controls not only in manual processes but also in ERP systems like Tally, SAP, Zoho, and QuickBooks.
Detect weak points before they become costly errors or fraud cases.
Be better equipped for statutory audits, due diligence, or board reviews.
Streamline workflows, reduce manual errors, and automate routine approvals.
Demonstrate strong governance and process discipline to investors and regulators.
Establish a continuous improvement culture with ongoing monitoring frameworks.
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Consultants
India’s payroll landscape has grown increasingly complex. Organizations must manage Provident Fund (PF), Employee State Insurance (ESI), Professional Tax, TDS…
The objective is to ensure financial integrity, regulatory compliance, and risk mitigation by assessing and improving business processes and control systems.
While not legally mandatory in all cases, it is highly recommended—especially for growing companies, funded startups, or firms with audit obligations.
Operational inefficiencies, process gaps, fraud potential, non-compliance with laws, segregation of duties issues, and IT control lapses.
Depending on the business size and scope, it typically takes 2–6 weeks.
Yes, we provide full support for setting up SOPs, training staff, and integrating new control mechanisms.
As an accounting firm, we take pride in being able to assist other companies providing trusted accounting support.
