Scope of the Project
The project encompasses a comprehensive evaluation of the internal control system within the targeted entity. Key components of the scope include:
Implementation of a Baseline Assessment: Conducting a thorough analysis of the existing internal control framework to establish a reference point for future improvements.
Adequacy Assessment Against Business Processes: Evaluating how well the current internal controls align with and support existing business processes and operational realities.
Identification of Gaps and Design Deficiencies: Pinpointing weaknesses or inefficiencies in the design and structure of the internal control system that may hinder its effectiveness.
Improvement Recommendations: Developing practical, tailored recommendations for strengthening the internal control system, grounded in leading European and international standards and aligned with ongoing Public Financial Management (PFM) reforms in Armenia.
