Logger Script
Internal Audit and Financial Advisory

Internal Audit and Financial Advisory

Internal Audit
Ensure the transparency of local subsidiaries and affiliates
One of the major concerns for global MNCs(Multi-national Companies) having operations in other countries is how to ensure the transparency of local subsidiaries and affiliates. Developing the appropriate and adequate audit plan specific to its local operations requires knowledges and experience. ControlWise has provided various risk-based audit and consulting services, including but not limted to, the enterprise risk management ("ERM") projects, internal audit co-sourcing and outsourcing services, operational and financial audits, process improvement reivews, and compliance audits for multi-national clients having its present in Korea. Based on these experiences and capabilities, ControlWise will provide a variety of appropriate audit services to resolve concerns about the transparency of operations of Korean affiliates for global companies.
Fraud Investigation
The most effective control and monitoring measures to detect and prevent fraudulant transactions
ControlWise has gained in-depth knowledge and skillsets in specific to the fraud investigation which are accumulated over the time by serving vast range of global clients. In modern business days, the risk of fraudulent transactions is increasing in local offices bypassing the company's monitoring efforts. ControlWise provides the most effective control and monitoring measures to detect and prevent fraud through our competitive workforce and networking with a diverse professionals in the regulatory and technical fields in Korea.
To implement and comply with SOX requirements with experienced subject matter experts
ControlWise has successfully performed the US-SOX and J-SOX implementation projects and testing support for many global companies from the time of initial implementation to the time of long-term stabilization stages. ControlWise not only effectively communicates with client in regards to the regulatory compliance aspects, but also has been effectively palyed as mediator's role to facilitate communication between clients and auditors when there is a conflict of opinion. As determining materiality in SOX scoping and interpreting regulatory compliance can be very complex and sensitive in some cases, playing a role as an effective communicator among key stakeholders in SOX project is becoming critical. ControlWise has the legal and accounting experts to provide appropriate consulting services to our clients in this area. With this knowledge and experience, we support clients' decision making in their SOX compliance.
K-SOX Compliance
K-SOX implementation approach optimized for Korean business environment
With the recent introduction of the government's mandatory internal control regulations for Korean companies and the introduction of K-SOX's audit obligations, the relevant regulations are viewed as complex as US-SOX requirements in Korea. As the implementation methodology of K-SOX adopts the framework of US-SOX and COSO 2013 revision, it is similar in high level as US-SOX or J-SOX. However, it is important to develop implementation approach based on the understanding of cultural differences, organizational, and industrial characteristics, which are different from US or Japan companies. ControlWise has provided K-SOX implementation and test services in most effective ways through the understanding of local business and operational practices, resulting in delivery of clients, it's investors and partners needs.
Financial Reporting Remediation & Compliance
Services for various fields and regulations related to financial reporting
ControlWise provides various financial reporting services for MNC's subsidiaries and affiliates located in Korea to comply with relevant regulations and rules as below;

- Reporting for regulatory compliance
- Nonrecurring business transaction
- Conversion between K-GAAP and IFRS
- Process and control design related to financial reporting during establishing a Korean operation

ControlWise has expertise in those related fields, such as regulation, tax law, and accounting to support clients establishing the most appropriate financial reporting and monitoring procedures in a rapidly changing business environment.
Tel : +82-2-539-3477|Fax : +82-2-6455-3417|Email : contact.controlwise@controlwise.co.kr
Address : 14-109, 507 Teheran-ro, Gangnam-gu, Seoul,(06168), Korea
Copyright 2021 ⓒ controlwise.co.kr. All Rights Reserved.