This Internal Control over Financial Reporting (ICFR) Library includes the following entity and activity level Templates:
- Baseline Controls in Small Entities
- Entity Level Controls (Tone at the Top)
- Financial Statement Close and Reporting
- General Control Activities over Technology (ITGC)
- Information Technology Application Controls (ITAC)
- Systems Development Life Cycle (SDLC)
- Purchases Cycle (Procure-to-Pay)
- Revenue Cycle (Order-to-Cash)
- Payroll Cycle
- Inventory Cycle
- Treasury and Investments Cycle
- Commitment and Contingencies
- Taxes
- Shareholders’ Equity
The ICFR library is derived from the mandates of the Sarbanes-Oxley Act Section 404: Management Assessment of Internal Controls. The globally recognized COSO Internal Control-Integrated Framework provides additional guidance. Functional equivalent Frameworks have been developed and implemented globally.
The ICFR Library provides a set of editable smart templates. They represent the core of what regulatory and corporate mandates generally require to document, assess, test, report, and oversee the design and operating effectiveness of the key internal controls on which management relies to prevent and detect material misstatement and fraud.
How do I download and use the templates?
You can download the smart Template Library from NORVA’s website by clicking on the download button. Before you can open and use the encrypted templates, you must first install NORVA’s Assessment Runtime Engine.
The Assessment Runtime Engine automatically generates and applies the password needed to programmatically decrypt a template and open it for use. Save the downloaded template (s) to a secure location on your system, then open the template from that location.
Are these templates based on real regulatory sources?
Yes. Every NORVA template is built directly from authoritative regulatory and supervisory guidance, with the original sources clearly referenced.
What do I get with a NORVA Solutions subscription?
With one affordable subscription, you gain access to 100+ smart templates through NORVA’s Compliance Assessment Toolkit. This gives you a practical library of Excel-native templates designed to help you complete compliance assessment work more efficiently, more consistently, and with greater confidence.
Why is NORVA’s Compliance Assessment Toolkit an easier and more affordable way to complete this work?
NORVA gives you everything you need on a platform you already know. Instead of building an assessment from scratch, you can start with structured, smart templates based on authoritative sources, work in Excel, and produce credible, inspection-ready outputs more efficiently and affordably.