The Classic Partners LLP
Risk Control Matrix (RCM) Services
Design and documentation of a Risk Control Matrix that maps your key risks to the controls that address them. The foundation for strong internal controls and IFC/ICFR compliance.
Build Your RCMWhat is a Risk Control Matrix?
A Risk Control Matrix (RCM) is a structured document that links each significant business risk to the specific control that mitigates it, along with the control owner, frequency, and testing approach.
It is central to Internal Financial Controls (IFC) and Internal Control over Financial Reporting (ICFR) compliance. We help you identify risks, document controls, and create an RCM that auditors and management can rely on.
Who Needs RCM Services?
- Companies required to report on Internal Financial Controls.
- Listed companies and their material subsidiaries.
- Businesses formalising their control environment.
- Organisations preparing for IFC/ICFR audit.
Our RCM Services Services
Risk Identification
Mapping process-level and entity-level risks.
Control Documentation
Recording controls, owners, and frequency.
RCM Design
Building a clear, auditable risk control matrix.
Control Testing
Design and operating effectiveness testing.
Gap Remediation
Recommending controls for unaddressed risks.
IFC/ICFR Support
Aligning the RCM with reporting requirements.
Why Choose The Classic Partners
- Qualified Chartered Accountants with hands-on audit and assurance experience.
- End-to-end support — from documentation and verification to final reporting.
- Timely delivery so you meet statutory and lender deadlines without stress.
- Transparent fees and a single dedicated point of contact.
Frequently Asked Questions
What is the purpose of a Risk Control Matrix?
It provides a clear, documented link between risks and the controls that manage them, forming the backbone of internal financial controls and audit testing.
How does an RCM relate to IFC and ICFR?
IFC and ICFR require companies to maintain and report on internal controls. A well-built RCM documents those controls and supports their testing and certification.
What information does an RCM contain?
Typically the process, the risk, the control activity, control owner, frequency, whether it is preventive or detective, and the testing method.
Who is responsible for internal financial controls?
The board and management are responsible for establishing and maintaining adequate internal financial controls, with auditors reporting on their adequacy.
Can you test our existing controls?
Yes. We assess design and operating effectiveness of existing controls, identify gaps, and recommend improvements alongside the RCM.
Need a robust Risk Control Matrix?
Strengthen your internal controls with a clear, auditable RCM.
Contact Us