Financial Policy and Control

Robust policy framework vital for control

Effective policy and controls frameworks form the foundation of a financial institution’s system of risk management.

They also preserve financial assets, help the board and management defend against fraud and financial mismanagement, and ensure compliance with laws, regulations and the institution’s own policies.

Solutions from StraitsBridge

financial control risk managementAt StraitsBridge, we design and implement financial controls that operate effectively and provide the management accurate financial information to support decisions in line with the institution’s risk profile and business strategy.

The policies and procedures framework thus implemented ensures that controls are appropriately designed and are aligned with the management structure and approach of the client’s organization.

We also conduct gap analysis for banks and financial institutions that require a review of their financial policy and controls framework.

Key areas of delivery
Our solutions include policy development and implementation at both the corporate level and business line level.

General Ledger and chart of accounts management

Intercompany reconciliation process
Account reconciliations, including ageing, charge-offs, inactive accounts, and suspense accounts

Contact us for more information
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Call us on: +65 6408 0501

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Risks of inadequate controls

Robust financial and accounting controls are critical in fairly presenting an institution’s operating results and risk profile.

Weaknesses in these controls can contribute to inaccurate or incomplete financial reporting and potentially result in legal fees/fines, significant reputational damage and a loss of business.

Some of the most notable accounting missteps by corporations have resulted in legal penalties, fines, prison terms, and the downsizing and/or dissolution of the entity.

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