Review of Accounting Policies & Internal Control System

Accounting policies are the specific policies and procedures used by a company to prepare its financial statements. These include any methods, measurement systems and procedures for presenting disclosures. Accounting policies differ from accounting principles in that the principles are the rules and the policies are a company's way of adhering to the rules.

An entity needs to be sure that the group accounting policy manual reflects current accounting requirements. An entitymay be concerned that poorly drafted policies and omissions from the manual may result in errors and inconsistent application of accounting requirements. Theentityalso needs to be sure that their accounting policy choices present the group results in the most appropriate way to investors and analysts

GBC on the basis of the above concerns review anentity's financial statements and check the entity's policies to ensure they conform to accounting principles and helps clients to confirm the technical accuracy of their accounting manual; update policies to reflect accounting developments;benchmark policies against industry norms;and if needed can reformat the manual for ease of reference.

GBC takes a proactive approach in helping to establish or strengthen internal controls. GBC accomplish this through generating a framework of internal controls based on a controlled environment, risk assessment, monitoring and reviewing, and information and communication.