Overview

Our HOPEX Internal Control solution can help you identify, implement, assess, and monitor internal control frameworks.

With HOPEX Internal Control, you can:

  • Reduce your risk exposure
  • Ensure regulatory compliance
  • Measure and improve business process performance

Key Features

Inventory Phase: Setting up an internal control library

Defining the internal control systems

  • First-level, second-level, and key internal controls are identified and described
  • Objectives for internal controls are established and all internal controls are documented

Setting up internal controls based specifically on your business

  • Graphical tools are used to associate internal controls with the corresponding business processes, business units, and risks
  • Internal controls are grouped according to regulation or standard (COSO, COBIT, ISO, etc.)

Execution Phase: Monitoring the execution of internal controls

  • Questionnaires are developed with a checklist for each internal control
  • Execution campaigns are planned (including frequency of execution) and results are consolidated into reports

Evaluation Phase: Carrying out assessment and testing campaigns

Identifying and analyzing deficiencies

  • Deficiencies are identified and qualified either directly in the solution or by using internal control assessment questionnaires
  • Deficiencies are categorized and analyzed according to their origin, cause, and impact through reports and consolidated views

Implementing and tracking action plans

  • Action plans and the corresponding deadlines are established and assigned to specific people through a workflow
  • Progress on action plans is tracked through reports and automatic reminders

HOPEX Internal Control is integrated into MEGA’s single platform. That means you get enhanced synergies for advancing your business and IT transformation, as well as a clear, common view of key information about your organization.