Establish an Effective System of Internal IT Controls to Mitigate Risks
The only thing worse than a lack of control is the illusion of control.
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A non-existent or ineffective system of controls could lead to:
- Internal & external security breaches
- Internal fraud
- Compliance related liabilities
- Failed audits
- Negative business exposure
- Poor confidentiality and integrity of data
- Loss, theft, and misappropriation of assets
- Loss of your job
An effective system of controls will likely lead to:
- Improved overall IT risk management and mitigation
- Decreased compliance-related penalties
- Decreased privacy and confidentiality breaches
- Protection from malicious internal security breaches
- Decreased loss, theft, abuse, and mismanagement of assets as well as unauthorized access to data
- Improved integrity of data
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Onsite Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn’t enough, we offer low-cost onsite delivery of our Project Workshops. We take you through every phase of your project and ensure that you have a road map in place to complete your project successfully.
Book NowModule 1: Assess Control Coverage
The Purpose
- Recognition of the benefits and importance of internal controls.
- Identification of the risks of an ineffective system of internal controls.
- Assessment of the adequacy of current controls and their coverage of risks.
Key Benefits Achieved
- Selected metrics to measure your system of internal controls.
- Risks prioritized relative to their current control coverage.
| Activities: | Outputs: | |
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| 1.1 | Select metrics. |
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| 1.2 | Identify and assess IT’s greatest risks. |
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| 1.3 | Map controls to risks. |
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| 1.4 | Assess the adequacy of control coverage for each risk. |
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Module 2: Establish, Monitor, and Evaluate Controls
The Purpose
- Identification of specific controls to implement.
- Identification of best practices for control development and monitoring.
- Communication of controls.
- Assign roles and responsibilities for the governance of internal controls.
Key Benefits Achieved
- Identified specific controls to mitigate risks and assigned implementation owner.
- Discussed best practices for developing and monitoring controls.
- Communicated controls effectively to end users.
- Roles and responsibilities assigned for governance of internal controls.
| Activities: | Outputs: | |
|---|---|---|
| 2.1 | Identify the processes affected by each risk. |
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| 2.2 | Determine the specific controls to implement for each control coverage gap. |
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| 2.3 | Create an inventory of control establishment activities. |
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| 2.4 | Discuss best practices for designing controls. |
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| 2.5 | Assign metrics to measure individual control effectiveness. |
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| 2.6 | Develop an internal control communication plan. |
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| 2.7 | Create a RACI chart for governance of internal controls. |
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| 2.8 | Discuss control monitoring and evaluating best practices. |
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