If an internal control cannot be measured, it cannot be managed. Enterprises must adopt and use automated controls that tighten security around financial reporting, conform to best practices, and can be monitored for performance. This research note is intended to assist enterprises in turning control terminology into tactical, practical steps for controls management. Topics covered include:
- Definitions of controls and control objectives.
- The ideal construction of a control.
- Why automated controls are superior to manual controls.
- How to effectively document controls.
Translate high-level control objectives into real-world IT requirements to achieve compliance goals and improve business processes.