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Case Study Sixteen: Provided Internal Controls Expertise, Leadership, and Resources to a Full Solution Security Services Company

Summary Level

A public company and nationwide provider of full solution security services and revenue approximating $140 million required expertise, leadership and resources to implement the May 2013 COSO Framework, assist in documenting risk assessment, enhance business process documentation and controls, including IT and entity level controls, and to assist in developing ongoing monitoring plans and separate evaluations.

Details

Client’s Situation:

A public company and nationwide provider of full solution security services and revenue approximating $140 million required expertise, leadership and resources to implement the May 2013 COSO Framework, assist the in documenting risk assessment, enhance business process documentation and controls, including IT and entity level controls, and to assist in developing ongoing monitoring plans and separate evaluations.

Accounting and Business Consultant’s Engagement Role:

We were engaged to provide internal controls, expertise, leadership, and resources, as needed.

Engagement Results:

With our guidance and leadership, the Company successfully implemented the new COSO and internal control requirements while impressing the external auditors with their results. The following year, entity level controls implemented by management through our guidance helped to discover certain irregularities reported by an employee through a whistleblower hotline. We also assisted Management with efficiently implementing and enhancing activity level controls utilizing a top down risk-based approach. We assisted the Chief Information Officer in formalizing IT security and availability controls in an efficient manner.