Location: British Virgin Islands EN-GB

Control Procedures

Internal controls can be considered the heart of a business. If these are not effectively working then the business could be exposed to extremely high risk.

The directors of a company and its management team should design and implement internal controls to provide reasonable assurance regarding the achievement of objectives in the following categories:

  • Effectiveness and efficiency of operations;
  • Reliability of financial reporting; and
  • Compliance with laws and regulations.

In addition to the above best practice, it should be noted that, the Virgin Islands Anti-money Laundering and Terrorist Financing Code of Practice, 2008 states that an entity must establish and maintain a written and effective system of internal controls, which describes appropriate policies, processes and procedures for forestalling and preventing money laundering and terrorist financing. Are you in compliance with BVI laws and regulations? Do you have such control procedures in place and fully documented?

We at Baker Tilly BVI will ensure that a qualified member of staff is available to assist you with this process.

Contact Nigel MacPhail

Nigel MacPhail
Audit Director
T: +284 494 5800 Ext 222

Email Nigel MacPhail