With the emergence of Information Technologies, Digitalisation and e-governance the possibility of improvement in efficiency and effectiveness of financial management looks more in comparison to the traditional manual system. Financial Controlling driven by an IT Enabled process is key and detrimental to the Organisation's growth.
IT enables industries to develop and maintain a competitive edge in the global market. Technology Controls are further a critical component of business operations and financial information controls. It provides the foundation for reliance on data, reports, automated controls, and other system functionality underlying business processes. The security, integrity, and reliability of financial information relies on proper access controls, change management, and operational controls.
Efficient IT Controls results in an effective controls in operations, compliance with laws and regulations and financial reporting. While financial information is not new, the complexity of financial reporting, business models, and the technology used to support them continues to evolve . Regulators expect enhanced reliability of financial information, and stakeholders are looking for more specific information and transparency . Deficiencies in IT Controls may hinder the management's ability to prepare accurate financial information.
We, at Proethic, takes complete effort to design, implement and monitor the appropriate IT Controls through activities like , Identify classes of transactions in the company's operations that are significant to the financial statements. We develop procedures, within both automated and manual systems, by which those transactions are initiated, authorised, processed, recorded, and reported. We implement Controls in the ways in which the information system captures transaction, events and conditions that are significant to the financial statements. We also developing Internal communication flow by which information is disseminated throughout the organisation, flowing up, down and across the entity. We ensure that period-end financial reporting process is done through IT.
At Proethic, we have a Team of Functional Professionals supported by IT and Communication Technology Professionals to design , implement and monitor the OT Enabled Controlling in the Organisation.