Internal control

Marillion team has a vast experience of working with multinational and Russian companies engaged in various industries. We use a customized approach tailored to each company, its goals, objectives and priorities, whether strategic, operational or tactical.

According to ACFE (Association of Certified Fraud Examiners) global studies in 2024, the root causes of realized threats, fraud, and multi-billion dollar losses¹ lie in defects of the internal control system.

5%	up to 30%
of the revenue is accounted for by losses on average worldwide	of the revenue could be losses in Russia

In many countries internal controls (and internal audit) were developed to protect investors from fraud and to raise the probability of achieving goals.

Lack of internal controls may entail:


Suspension and/or termination of company operations	Misappropriation, withdrawal or loss of property and assets	Manipulations with financial and managerial accounting	Ineffective and inefficient operations, losses

For a company of any size, whether private or public, internal control matters are the most critical not only in terms of financial stability and profit-making, but also in terms of business survival and reliability of information which forms the basis for managerial decision-making.

In addition to business processes, the modern systematic approach towards internal controls includes the controls environment (organizational structure, mechanisms and procedures approved by the company) and information technologies, targeting implementation, maintenance and development of the internal control system (ICS) based on most advanced methods, standards and technological approaches.

Reliable and effective ICS:

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Reduces the average financial losses from fraud more than twice¹	Reduces fraud duration more than twice¹
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Enhances business strength, stability and survival ability	Improves decision-making quality by means of reliable and timely managerial and financial accounting (FSICS)
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Accelerates the turnover of capital and cash flows	Reduces losses and enhances profits
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Generally contributes to the company's success in achieving its goals	Strengthens corporate reputation and trust on the part of stakeholders, facilitating better terms obtained from banks, insurers, external auditors, suppliers, and partners
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Why Marillion?

Over 30 years of experience on the Russian market.
Project team consisting of specialists from various industries, which allows us to conduct a comprehensive risk analysis and make clear practical recommendations.
Absolute confidentiality and thorough analysis of the project details.
Customized solutions: we listen to our clients and provide personalized services, tailored to their industry and business specifics.
Comprehensive recommendations — from management to reporting.
Internal Audit Director with 19+ years of experience in major corporations in Russia, including TNK-BP, CTC Media, Inc. (NASDAQ Listed), SIMPLE Group, industrial and metallurgical holdings.
We built three internal audit services from scratch on the basis of international standards recognized in 170 countries worldwide, with proven experience in operational improvements, internal control, risk management with ROI of 200+ million per year.
Successful cases: 48+ companies and 21+ hybrid teams, system-relevant projects launched to develop internal control and risk management in the following areas:
- Reliability of financial statements/financial statements internal control system (FSICS),
- Operational efficiency and effectiveness,
- Compliance.

Our services

Marillion experts provide a full package of internal control services and are ready to help you with:

Express diagnosis or detailed assessment of the internal control system.
Implementing from scratch or adapting your internal control system to the needs of stakeholders, regulatory requirements and best international and Russian practices.
Co-sourced internal audits:
— independent testing of design and operational effectiveness/actual functioning of control procedures in business processes, IT environment, and corporate level/corporate culture controls,
— streamlining business processes, and identifying weaknesses affecting financial performance.
Methodological support for ICS implementation, together with drafting regulatory and methodological documents, developing approaches to BP streamlining, enhancing reliability of accounting, and reducing losses.

Our achievements and awards

International certifications: Certified Internal Auditor (CIA), CPA (AICPA), NACD Director Professionalism Course, etc.

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Recognized expertise: — Best Internal Audit of the Year (Adam Smith Russian CFO Award), — Annual award nominees of the International Compliance Association.
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Co-authors and co-developers of fundamental methodological regulatory documents in Russia on internal control, risk management and internal audit within the framework of the Expert Advisory Council under the Federal Agency for State Property Management, Moscow Exchange, and NSS AMC Foundation.
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Members of the Institute of Internal Auditors (IIA), the Independent Directors Association (IDA). We are among the best professionals in internal audit (1,700+ internal auditors — Certified Internal Auditors (CIAs)).