Maintenance of internal control
Our client is a Swedish listed multinational company with yearly revenues of approximately 5 billion SEK. The Company has over the last years implemented a framework for internal control over financial reporting based on COSO. The main purpose of the framework is to manage the financial reporting risks and increase the reliability of the internal and external reports, as well as decrease the risk of fraudulent activities and to harmonize the procedures and controls across the different locations.
A large IT-project has been carried out affecting the financial reporting processes throughout the Group; hence, a need was identified to update the processes, risks and controls in scope.
Lind Andersson was engaged to assist Group Management with scoping and overall planning of the updates of the financial reporting processes and to perform the updates on site for all of the subsidiaries in scope. The work was then carried out at the largest subsidiaries located both in Sweden and abroad.
Lind Andersson has also been engaged to coordinate the operational self-assessment process within the Group in order for Group Management to assess the effectiveness of the internal control environment.