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Power and utilities

Strengthening your internal controls: Tips, tactics and best practices

In an effort to cut costs, improve service to local communities and realize operational efficiencies, Local Distribution Companies (LDCs) across Canada have been engaging in value-enhancing mergers. However, to unlock the full value of a merger, the merging companies need to be aware of some common pitfalls—and those include relying on disparate internal controls.

If merging companies don’t take the time to integrate their internal controls, employees may be uncertain about which processes to follow and critical activities could fall through the cracks. Failure to standardize processes also makes it harder to measure improvements or identify gaps, preventing LDCs from using their internal controls to drive productivity.

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