A variety of recent regulatory schemes, including SOX and the different European regulations (e.g. Turnbull) have spurred companies to formalize their internal control systems.
Compliance with these laws is both a strategic and a legal issue. A company's ability to effectively manage controls ensures optimal financial management, greater risk control, and enhanced operational performance.
In order to meet these challenges, an internal control system must be implemented with the participation of the entire organization, and particularly operational managers, but without generating additional costs.