Financial controls and its implementation is a mandatory statutory requirement from the FY 2015-2016. At Constellation Blu we believe that other then it being a mandatory requirement, it can have a major impact on a business in multiple ways. With financial controls in place chances of fraud and leakages minimize. This is very important for early stage companies as they are in course of developing a foundation for a scaling up at pace.

A comprehensive FC plan includes:

  • Preparation of process flows for all the key and critical processes of the business
  • Preparation of flow charts with details on role and responsibilities for these processes
  • Preparing risk control matrix
  • Identifying controls that are required to be implement
  • Performing walkthroughs
  • Assisting auditors in audit of financial controls of the company
  • Quarterly checks / tests on the implemented controls