31 Days to a More Effective Compliance Program - Assessing internal controls in int'l operations

Thomas Fox
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How should you assess your internal controls regime for international operations? It is incumbent that you need to review as much information as you can to understand the financial and operational structure of an entity and how it is integrated with the corporate headquarters, or the U.S. business unit’s financial and operation structure, if the foreign operation is part of a U.S. business unit. 

How should you assess your internal controls regime for international operations? It is See more +

How should you assess your internal controls regime for international operations? It is incumbent that you need to review as much information as you can to understand the financial and operational structure of an entity and how it is integrated with the corporate headquarters, or the U.S. business unit’s financial and operation structure, if the foreign operation is part of a U.S. business unit. 

How should you assess your internal controls regime for international operations? It is incumbent that you need to review as much information as you can to understand the financial and operational structure of an entity and how it is integrated with the corporate headquarters, or the U.S. business unit’s financial and operation structure, if the foreign operation is part of a U.S. business unit.

Three key takeaways:

1. You must understand the financial and operational structure of your company and how that structure outside the U.S. is integrated with the corporate headquarters.

2. Are your financial statements and reporting systems integrated?

3. Always consider the fraud triangle.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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