The Internal Control Assessment exercise, in lines with RCSA framework, enables organizations to carry out an assessment of its controls, to identify any rectify any gaps in its control framework. We assist Financial Institutions in developing Internal Control Assessment framework, to carry out periodical tests to gauge the efficacy of risk management controls.

Our Internal Control Assessment offering combines best practices as prescribed by the Basel principles as well as COSO framework. The following are the key aspects covered in the control assessment exercise:

  • Design Effectiveness
  • Degree of Automation associated with the control
  • Operational effectiveness

Besides the objective assessment in lines with the principles above, the controls are also gauged on the basis of historical risk levels and comparing past risk behaviour against control objectives.