Internal Control System (ICS)

Transparent processes create risk awareness

An internal control system (ICS) serves the software-supported internal process control as well as the documentation and monitoring of business processes in companies. It provides protection against and prevents acts of abuse and damage within the company. In addition, an ICS includes various monitoring measures, which are primarily carried out by the internal audit department.

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antares RiMIS® ICS

Thanks to the complete documentation of process controls and workflow-supported monitoring, antares RiMIS® ICS uses effective procedures to ensure that your business processes are transparent, secure and run according to defined (legal) regulations. The procedure includes all corporate bodies, including the supervisory board and the management.

The main objectives of the ICS include monitoring and preventing risks, ensuring the functionality and efficiency in business processes as well as the reliability of operational information and asset protection. Comprehensive control measures and complete documentation prevent material misstatements in financial reporting and ensure complete, correct accounting records. To achieve these goals, antares RiMIS® ICS relies on various principles, such as transparency and minimum information.

Internal control system

Internal control system

Systematic control workflow

Systematic control workflow

Authorisation concept

Authorisation concept

Sorting the pending controls

Sorting the pending controls

Convenient report portfolio generator

Convenient report portfolio generator

Functions of the ICS

  • Efficient risk assessment procedures and systematic control workflow.
  • Consideration of the four ICS principles.
  • Effective mechanisms to review controls for effectiveness, traceability and achievement of objectives.
  • Possibility to connect further analysis, reporting and planning modules and easy combination with extension modules like antares RiMIS® ISMS (information security), antares RiMIS® DSMS (data protection) or antares CIRS (anonymous reporting system).
  • Secure authorisation concept, internal auditing and simple reporting.
  • Options: On-premise or cloud-based solution.

Process management at a glance

Control workflow

Our software provides a systematic workflow of the controls as well as the presentation of the control activities to be carried out on a filterable and searchable overview screen. The monitoring system thus ensures completeness, transparency and clarity. The tool allows the definition of control owners, whereby different owners per control can be defined per organisation, legal entity and process.

Documentation

The execution of control activities is automatically reported to the control manager. The release process can be individually specified and the four-eye principle can be designed with several levels. In this way, the control objectives are kept in mind.

Effectiveness

Controls are reviewed at regular intervals for their effectiveness, traceability and fulfilment of objectives. The periodic review provides information on whether the controls are suitable to have a positive effect on the control objectives and to counteract the deposited risk or whether measures are necessary to adjust a control. In short, as soon as control objectives are not achieved, the periodic reviews help to realign control measures.

Monitoring

Already in the standard functional scope of the control system, evaluations of the status of controls within the processes, aggregated views from a process, legal and organisational perspective with drill-down are possible. In addition, the control measures can be sorted according to their effectiveness.

Integration

The internal control system is available as an integral part of our GRC software solution antares RiMIS®. Due to the web capability, any number of employees access the system decentrally, participate permanently in the project and obtain information independently. The basis for setting up a more comprehensive risk management system with an internal control system is the COSO ERM framework (Enterprise Risk Management).

Reporting

With the convenient report portfolio generator of the control system, the user has the possibility to create independent report portfolios as well as to integrate the ICS area into the risk management report of our software solution for opportunity and risk management antares RiMIS®.

FAQ

Can the controls be flexibly assigned to the company/organisational structure?

The controls are managed in the software as master data and can be "distributed" within the company as desired and flexibly.

Can an individual process structure be stored in the system?

Yes. In addition to various possibilities of structural assignment, there is also an assignment to the process. The structure can be built up multi-dimensionally.

Can a distinction be made regarding the intensity of control within the company?

Yes, controls can be both weakened and strengthened selectively.

Can mandatory controls be defined?

Yes, the control type can be used to define mandatory, target and optional controls.

Is there a reminder function for carrying out the checks.

Yes, reminders can be sent directly in the application as well as by email.

Is there also a link from controls to potential risks?

Yes, there is a two-way allocation option (control to risk and risk to control).

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An effective internal control system (ICS) helps you to address risks with controls so that acts of abuse and damage to companies are prevented. For more information on the ICS module and its workflow, see the white paper.

Your request for antares RiMIS® ICS

Thank you for your interest in our established software solution for software-supported, internal process control - antares RiMIS® IKS.

The solution is characterised by a wide range of applications, individual design options and simple user guidance. Further features and functions can be found in our whitepaper.

Do you have any questions about antares RiMIS® IKS or the company? Don't hesitate and contact us at 07331/3076-0 or by e-mail at info@antares-is.de. We will get back to you as soon as possible.

Arrange initial meeting now

Jochen bruehl
Jochen Brühl | Managing director

Select your desired option and arrange a non-binding and free consultation with our managing director Jochen Brühl.

We will answer your questions and make sure that you get to know our software in detail. We will be happy to show you the solution to your individual requirements. Afterwards, if you wish, we will present the performance spectrum of our software to you, live and directly, via web session or personally at your premises.

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