Internal Financial Control Assessment and Reporting ...

InternalFinancialControl AssessmentandReportingrequirements,CaseS tudies, , 2017 WIRC of ICAI2 2017 Protiviti. CONFIDENTIAL: This document is for your Company's Internal use only and may not becopied nor distributed to another third of ContentsApproach and Methodology under IFC52 Few Relevant Things26 Why Internal Financial Controls (IFC)?3 Applying COSO 20131349 Project Planning under IFC59 Key Outputs/Deliverables67 Illustrative Work Papers75 Status Reporting82 Case Study94 Scope and Coverage under IFC3 2017 Protiviti. CONFIDENTIAL: This document is for your Company's Internal use only and may not becopied nor distributed to another third Internal Financial Controls (IFC)?4 2017 Protiviti. CONFIDENTIAL: This document is for your Company's Internal use only and may not becopied nor distributed to another third Financial Controls (IFC) -BackgroundAsubstantialstepinmakingregul ationsmorecoherent,CompaniesAct,2013hadi ntroducedtheconceptofInternalFinancialCo ntrols(IFC) 'responsibilitiesonIFCislaiddownundersec tion134(3)(c)readwithsection134(5)(e).

** Note 2 : All Public Companies with paid up capital of INR 10 crore or more, Turnover of INR 100 crores or more and Loan, borrowing, debentures and deposits of INR 50 crores or more in aggregate. Private companies may require to adopt the same as well. *** Note 3 : Auditor Report comment upon IFC is limited to ICFR as per ICAI guidelines.

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  Assessment, Control, Reporting, Financial, Loan, Financial control assessment and reporting

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