Insights

Internal Controls Program Implementation for a Global Online Content Broadcaster

internal controls case study for media company

 

Use Case

When one of the largest online global content broadcasters reached the materiality threshold for inclusion in parent financial statements, it needed end-to-end risk and compliance support.

CrossCountry Consulting was engaged to assist with the implementation of an internal controls and compliance program, which included:

  • SOX-compliant assessment procedures.
  • End-to-end process flows and process narratives for material revenue streams.
  • Resolution of data integrity concerns across the business.

Our Approach

To deliver, CrossCountry held discovery sessions across all of the client's product teams. From these sessions, our team of experts was able to create process flows and narratives.

For the purposes of building templates for business units to leverage for ongoing use and documentation of source code, the team identified and documented:

  • Data transformations.
  • Data sources.
  • Data output and storage.

We also aggregated and developed an environment-wide inventory of relevant systems, jobs, tools, reports, and interfaces to support internal teams. Parallel to this effort, we created education materials and assisted in risk and controls education sessions across relevant business organizations, specifically within engineering product teams.

These initiatives laid the foundation for SOX scoping and testing by internal and external audit teams.

Our Impact 

 

With CrossCountry's leadership, the client was able to successfully:

  • Implement an efficient internal controls program.
  • Identify stakeholders and owners for each process.
  • Determine budget and headcount for the following fiscal year. 

The company has also made significant progress with improving the quality of its data as a result of our work. 

CrossCountry Consulting continues to support various other initiatives within the client’s accounting and internal controls departments and has become a trusted advisor to the company.

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