The objective of an internal control system (ICS) is to systematically combine various organizational measures in line with the respective corporate risk by creating suitable organizational structures to ensure compliance with existing rules and guidelines. The aim is to avert damage to the company and external third parties.
Economic crises and compliance violations have increasingly focused public attention on the importance of internal control systems (ICS) as well as compliance management systems (CMS) in Germany. At the same time, voices have become louder and case law increasingly strict when it comes to holding corporate officers more accountable for misorganization, mismanagement and any misconduct on the part of employees. This trend will continue with the draft Corporate Liability Act and the obligation to implement whistleblower systems starting at the end of 2021.
are leading to rapid shifts in processes, systems and responsibilities, with the result that risks are becoming more acute in day-to-day business.
Simultaneously, various regulatory requirements are forcing companies to continuously document, review and adapt their business process controls and internal control and monitoring systems.
An effective internal control system consists of five major components:
The challenge is to install an efficient and lean internal control system that adequately addresses all requirements and supports, not hinders, key processes. The operational business of a company must not be disrupted as a result.
Unlike in standardized accounting, there are few concrete specifications from the standard setters for the configuration of a company's internal control system.
To build an internal control system with a sense of proportion, experience is needed above all. Why? Because only with extensive experience can the complex interplay between corporate strategy and organization, business processes, IT systems and the internal control system be fully grasped. This exactly is our core business. We take you by the hand and guide you through the thicket of current requirements for the company, its employees and executive officers and avert liability risks before things can get really serious.
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You would like to implement an internal control system for your company in Germany? You would like to renew your existing ICS? We are happy to support you! Your contact persons for all questions regarding ICS are
The easiest way to reach us is by e-mail (firstname.lastname@example.org) or by phone (+49 69 76 75 77 80). We look forward to hearing from you and answering your questions!