Koexco is dedicated to the idea that excellence in controls and compliance means a process that is not only effective but also cost effective. Excellence boosts productivity and profitability significantly. This requires eliminating redundant and excessive procedures and insuring that remaining procedures address significant risks — financial, regulatory and operational.
It also implies that all significant risks have been identified, quantified and cost effectively controlled appropriately.
Effective audits identify and prioritize key risks together with establishing and testing the effectiveness and cost effectiveness of related controls and procedures.
The above principles are the foundation of Koexco’s approach to auditing, control and compliance. Controls have such a broad and pervasive impact on organizations that they are at the heart of virtually every activity. Indeed the act of managing an organization is itself a control.
Control concepts apply to financial, legal, operational, organizational, systems and management dimensions of the organization. In fact there is no area that is NOT subject to controls which must function synergisticaly for the organization to achieve its objectives.
The very definition of a control is simply … “A process, procedure or activity that is designed to promote the accomplishment of an objective.”
Hence internal auditing itself is a control, management is a control, due-diligence is a control, financial reporting is a control, the organizational plan is a control, compensation and bonus plans are controls … the list goes on.
By focusing on control excellence, it is our aim and skill to improve organizational efficiency and effectiveness (for example by reducing costs and improving profitability). To put it simply, we audit and design processes (controls) that allow the organization to achieve its objectives.
Whether the process in question is due diligence to promote an effective acquisition and/or financial transaction or financial auditing to promote fair and accurate financial reporting or operational auditing to achieve a cost-effective and efficient operation, we have developed a unique and powerful approach to the accomplishment of these and other key organizational goals through control excellence.
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