Analysis of select Internal Controls

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Trivor Software PVT Ltd.

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Analysis of select Internal Controls

  1. 1. T r i v o r Software Pvt. Ltd.<br />Analysis of select Internal Controls<br />* Analysis of select Internal controls conducted by SaadSarfraz<br />
  2. 2. Presentation Layout<br />Company Profile <br />Specific needs for Internal controls<br />Hierarchy structure & reporting dimensions <br />Internal controls in Administration department<br />Internal controls in Finance department<br />Internal controls in Human Resource department <br />
  3. 3. Company Profile<br />Computer Software Applications<br />Oil & Gas Sector <br />Financial Institutions<br />Manufacturing Sector<br />Alternative Energy sources<br /> Acquisition by Bentley in 2006<br /> Location and size <br />
  4. 4. Internal Control<br />Specific needs<br /><ul><li>High tech specialized market  Quality professionals
  5. 5. Propriety Information  Confidentiality
  6. 6. Inventory management  Content management (MIS)
  7. 7. Consignment based projects  Progress evaluation
  8. 8. Offshore clients  Quality Assurance
  9. 9. Documentation  CRM</li></ul>Specific needs = Specific controls and SOPs <br />
  10. 10. Hierarchy and reporting <br />
  11. 11. Introduction<br />Responsibilities of Administration Department<br />Vendor selection<br />Procurement control<br />Maintenance of records <br />Hiring <br />Training<br />
  12. 12. Control areas monitored by the Admin Department<br />Financial Management<br />Hiring process<br />Orientation process<br />Bentley notification<br />Training process<br />Vendor selection<br />Purchasing<br />Infrastructure and resources<br />
  13. 13. Control Procedures<br />Documents and data control<br />Monitoring and measurement of processes<br />Internal auditing<br />Improvement<br />
  14. 14. Control of Administration Records<br />Control of Administration and Accounts Records (Hard Copies)<br />Control of Administration and Accounts Records (Soft Copies)<br />Control of Training Records (Soft Copies)<br />
  15. 15. Procurement Process<br />The manager, who requests technical service procurement, shall prepare a procurement document<br />The procurement document will contain the following provisions<br />Clearly define the scope of work<br />Technical requirements<br />Purchase order form authorization from CEO <br />Delivery for purchases <br />Cost and Schedule information<br />
  16. 16. Related Records<br />Requisition Form<br />List of Approved Suppliers<br />Supplier Evaluation Form<br />
  17. 17. Purchase Process<br />Request<br />Vendor Selection and Approval<br />Purchasing<br />Verification of Purchased Item<br />Supplier Monitoring and Services Evaluation <br />Purchasing Document Review and Approval<br />
  18. 18. Related Records<br />Supplier Evaluation Form <br />List of Approved Suppliers<br />Purchase Order<br />
  19. 19. Inventory Management Process<br />When item is purchased the administration manager will make an addition in inventory list<br />The Manager Admin appoints a person to take the inventory of items (furniture, offices supplies etc)<br />The appointed person will take the physical inventory of listed items<br />Note the inventory on prescribed form <br />Inform administration manager about the inventory lists <br />The appointed person will coordinate with MIS to take the updated inventory lists<br />The appointed person will make a report of all the inventory by equipment, furniture and other and report to Manager Admin<br />The System Administrator create the inventory report of Hardware and Software<br />CD’s inventory records are maintained and updated whenever there is a new addition in CD’s by the Network Support<br />
  20. 20. Related Records<br />Inventory of Furniture and Office Supplies <br />Office Inspection Report<br />MIS Inspection Report<br />
  21. 21. Human Resource<br />Hiring<br />Requisition form<br />Applicant interview grade<br />Employee agreement<br />Appointment Letter<br />Evaluation<br />Probation period evaluation<br />Employee evaluation guidelines<br />Employee performance evaluation form<br />
  22. 22. Human Resource<br />Training<br />Training request form<br />Training plan template<br />Employee training history<br />Miscellaneous HR controls<br />Gate Pass form<br />Leave form<br /> Loan form<br />Time sheet worksheet <br />Termination/ Clearance form<br />

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