Internal Controls over Financial Reporting (ICFR)

Driving Financial Integrity. Strengthening Governance. Inspiring Confidence.

Why ICFR Matters

In today’s regulatory and investor-driven environment, financial transparency is not optional — it is the foundation of trust. Internal Controls over Financial Reporting (ICFR) provide assurance that financial statements are accurate, reliable, and free from material misstatement.

Over the past two decades, global financial crises, corporate failures, and increasing regulatory reforms have highlighted the need for strong ICFR practices. From IFRS compliance to local regulator requirements, effective ICFR protects organisations from reputational damage, ensures investor confidence, and enables better decision-making at every level.

At Falconry Solutions, we help organisations move beyond checklist compliance to build ICFR frameworks that embed discipline, resilience, and agility into the financial reporting process.

How We Can Help

Our ICFR Services

Powered by Falconry360

Falconry360 enables BCM programs to evolve from static documents into dynamic, living capabilities:

  • Resilience Dashboards – Monitor continuity KPIs, incidents, and recovery status at a glance.
  • Scenario & Simulation Tools – Track exercise results and after-action reviews.
  • Integrated Reporting – Provide board and regulator-ready continuity updates.
  • Supplier & ITDR Linkages – Connect third-party resilience with IT recovery planning.

The Falconry ICFR Journey

From Compliance to Confidence

A successful ICFR program evolves in stages. Falconry Solutions guides organisations through a maturity journey that strengthens financial integrity step by step — moving from baseline compliance to optimised, tech-enabled assurance.

Baseline

  • Ad-hoc or fragmented controls in place
  • Reactive compliance to regulator requirements
  • Limited documentation and inconsistent ownership
  • High dependency on manual processes

Outcome: Compliance-driven but fragile ICFR environment.

Enhanced

Embedding Structure & Accountability

  • Formal ICFR framework aligned with COSO/IFRS
  • Risk-based process mapping and documentation
  • Defined roles, responsibilities, and control ownership
  • Initial testing of control design and effectiveness

Outcome: Improved reliability, reduced risk of misstatements.

Advanced

Strengthening Assurance

  • Integration of ICFR with enterprise risk management (ERM) and internal audit
  • Continuous improvement cycle with remediation and retesting
  • Standardised sampling and evidence-based testing methods
  • Training and awareness embedded across finance teams

Outcome: ICFR becomes part of governance culture, building investor trust.

Optimised

Tech-Enabled Confidence

  • Real-time dashboards via Falconry360
  • Automated control monitoring and early-warning alerts
  • Data-driven insights connecting financial risks, controls, and audits
  • CFO and Board receive live visibility of control health and remediation status

Outcome: ICFR becomes a strategic enabler of resilience, investor confidence, and sustainable growth.

 

Why Falconry for ICFR?

Cross-Sector Expertise

Banking, energy, manufacturing, public sector, and beyond.

Advisory + Technology

Blending global standards with Falconry360 automation.

Board & Audit Committee Engagement

Ensuring financial integrity is championed at the highest level.

Outcome-Focused

Beyond compliance, building resilience and investor trust.

Meet our Experts

Manahil Ahmed Khan

Director Cybersecurity & Privacy

Amine El Haimar

Director Risk Quantification

Hamad Khanzada

Director Audit & Assurance

Saad Bin Tariq

Director GRC Platforms

Uzair Aman

Senior Manager GRC Solutions

With Falconry Solutions, ICFR is not just a safeguard

it is a strategic enabler of trust, performance, and sustainable growth.

Through innovative GRC solutions, we solve critical problems that drive impact—empowering employees with the confidence and skills to manage emerging risks and future challenges