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Overview

Our Internal Control Compliance team’s goal is to help your organization put in place and maintain a strong and leverageable internal control program. Internal controls are an integral part of the entire cycle of planning, budgeting, management, accounting and auditing. As such, we take time to understand how your organization works, identify the challenges you face, and work with you to determine a solution based on your unique needs. We uncover areas of concern that keep you from growing and create a custom solution – there is no “one size fits all” solution when determining the best control structure for your environment.

Our team works intimately with yours to better understand your organization and pinpoint your distinctive internal control structure.

  • Publicly Traded Companies – We work to develop and evaluate your systems of internal controls to verify they are working properly and serving the needs of your organization. This will support compliance with Sarbanes-Oxley and other applicable compliance requirements. For more information on conducting an internal audit of your organization, click here.
  • Private Companies – Internal controls are important for all organizations, including private companies. Whether the goal of the internal control structure is to comply with various regulations applicable to your industry or to safeguard your assets, we can help design a control structure to support your needs.

Our services are not only focused on whether your company is public or private, we can also provide a variety of industry-specific services to better assist you in remaining compliant.

  • Financial Institutions – We can help you address your financial institution’s regulatory compliance requirements involving your internal controls. We can provide compliance audits, compliance assistance and mentoring as well as specialty projects to help support your compliance with various regulations. For more on how we can serve your financial institution, click here.
  • Public Sector – Our team helps you establish appropriate internal controls to focus on the fiduciary responsibilities of local government entities and ensure the effectiveness and efficiency of operations, reliability of financial reporting and compliance with applicable laws and regulation. For more information on how we can serve your public sector, click here.
  • Health Care – We help your organization successfully navigate the ever-changing regulatory and operating environments of providers, suppliers and medical practitioners. For more information on how we can serve your health care organization, click here.

The Brown Smith Wallace Internal Control Compliance team can also provide consultation on the recently updated COSO 2013 framework. This framework is typically used by publicly traded companies to assist in the evaluation of internal control over financial reporting, but all companies are able to leverage COSO for their organization’s internal control framework.

Ultimately, our Internal Control Compliance team works with your team to ensure your organization is running effectively and efficiently while maintaining compliance with all applicable laws and regulations. For more information on how we can help your organization, call us today to schedule a meeting.

Experience

Testimonials

  • Brown Smith Wallace assisted the Archdiocese of St. Louis with an internal audit assessment of guidelines and controls related to electronic financial transactions at parishes made through shared accounting. Their team identified gaps in existing internal control guidelines and made recommendations to improve controls related to electronic transactions, including invoice transmission and processing, electronic check signatures, electronic bank statement reviews, online payments and electronic document retention. The final reported demonstrated a thorough understanding of our organization and its processes. Ultimately, the project resulted in recommendations that make sense based on how we operate and should help tighten controls in the long run once implemented. The knowledge and insight from the Brown Smith Wallace team was valuable, and we are appreciative of their expertise and the final report we received.

    Archdiocese of St. Louis

    Katie Feise, Internal Audit

  • I worked with Brown Smith Wallace on several internal audit projects. I found them to be very knowledgeable of health care operations and understood how the work they completed was integrated into and enhanced our internal controls. One internal audit area of great help was the analysis and development of controls related to data access and its meaningful use implications.

    BJC Health Care
    Mary Riggs, Manager

  • Brown Smith Wallace provides us with detail-oriented, user friendly service as our outsourced internal audit provider. They’ve been very helpful in enhancing our controls with their internal control and operational recommendations. We have made particularly good use of their sampling resources and they have provided us with very helpful, independent support to our SOX compliance efforts. I am very impressed with the depth of their insurance industry knowledge, and I find them very approachable and easy to work with. They have demonstrated great flexibility in our dynamic environment.

    Independence Holding Company
    Paul Janerico, Vice President, Internal Audit

  • When you have an operation with as many moving parts as a multi-campus community college, having your finger on the pulse of ongoing activity is critical. Better information increases the likelihood of making the right decision at the right time. The Brown Smith Wallace Advisory Services team assisted the St. Louis Community College District in identifying internal control weaknesses and process inefficiencies which resulted in recommendations to improve both controls and processes in several areas. These areas included control environment, accounts receivable, accounts payable, IT general controls, payroll, purchasing, p-cards, bookstore/auxiliary operations, facilities and the Student Assistance Fund. The expertise of the Brown Smith Wallace professionals made for an efficient assessment that provided St. Louis Community College with a roadmap to improve our processes and make better decisions in the future.

    St. Louis Community College

    Celeste Metcalf, Former Controller

Thought Leadership

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