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Phone: 508.572.3637

• Business Process Analysis
• Data Solutions
• Internal Controls

Internal Controls

Many clients utilizing Bullpen’s Business Process Analysis services require a deeper-dive on internal controls. Partnering with proven technology provider Diamond Compliance LLC, Bullpen assists organizations in establishing and monitoring effective internal controls programs tailored to the specific objectives of its customers. Our approach to instituting effective internal controls consists of three phases:

Risk Assessment
Determining appropriate internal controls starts with identifying risks requiring mitigation. Bullpen’s risk assessment process centers on defining and rating relevant financial, operational and external risks and gaining consensus among key stakeholders in the organization on the risk population and priorities.

Controls Determination
Based on the results of the Risk Assessment phase, the Bullpen team works with subject matter experts to document relevant “current state” and “optimal state” internal controls. Remediation plans are developed to close the gap between current and optimal states and testing plans are created for each “optimal state” internal control.

Execution
During the Execution phase, the internal controls testing plans are performed. Bullpen consultants play many positions during this phase from individual tester to full project management. Leveraging our Diamond Compliance partnership, robust scorecards and dashboard reporting are made available to key stakeholders throughout the organization.