The Financial Control Services (FCS) team is part of the Group Finance team, established to improve the overall controls environment within the ASW Group.
ASW has a firm belief that a business with strong Operational Standards & Controls will enable improved Financial performance, and that strong Operational Standards & Controls are a key enabler to a robust Financial Control environment.
FCS is responsible for coordinating the half yearly self-assessment process, which is performed based on an in-house developed retail operating standards manual, and reporting the results to Group Management. In addition, regular independent testing will be performed by FCS to verify the self-assessment declarations made by our business units. Action plans will be formulated with the business units together to address the non-compliant issues identified within the shortest possible timeframe. FCS also acts as a gatekeeper of the retail operating standards manual and updating the content on a regular basis to address different operational and financial risks in our business.
We also work closely with the internal audit team from our parent company and help ensure the earliest rectification of the audit findings reported. We pride ourselves on maintaining a very close working relationship with our business units and obtaining regular updates on the rectification status of the outstanding issues. If needed, we provide our professional advice, together with other Group Functions, to our business units and work with them together to formulate the action plans.