Content Customisation- Controls Management

The term controls refers to the process that auditors perform to test the design,performance and effectiveness of control for key elements of the client’s internal control system.

We have hundreds of controls in our library

We have a comprehensive control testing library with hundreds of pre-defined control tests across a broad range of categories that can be selected and appended to each compliance obligation.

Each control test is assigned within one of the following control test groups:

Control Groups	AML	ABC	Data Management
Organisational Context	✓	✓	✓
Planning	✓	✓	✓
Support	✓	✓	✓
Operation	✓	✓	✓
Risk Assessment	✓	✓	✓
Training	✓	✓	✓
Employee Due Diligence	✓	✓	✓
Performance Evaluation	✓	✓	✓
Improvement	✓	✓	✓
Governance	-	✓	✓
Leadership	✓	-	-
Customer Identification	✓	-	-
Enhanced Customer Due Diligence	✓	-	-
Ongoing Customer Due Diligence	✓	-	-
Reporting	✓	-	-
Regulatory Feedback	✓	-	-

Adding your own controls to the library is quick and easy

Simply add in a control group, control and test to be performed and it is added permanently to the library for future selection.

You can even create your own control groups

You can even create your own control groups and add underlying controls and tests associated with that group by clicking Add New in the control group column.

Appending controls to the Health Check assessment

To add controls to the Health Check, simply select the appropriate control from the control library by browsing the controls underneath each control group, selecting the checkbox next to the control that you want to assess and click the Add Control button which will append these into the Health Check against the obligation that is being assessed.

Don’t worry if you can’t find a suitable control in our library as you can easily add your own to suit your specific requirements.

Following the above descriptions will be a summary of the controls that have been appended into the Health Check, which displays in the collapsed view (e.g. summary of the control and the control design/performance/effectiveness rating assessment).

Control Design

Control Design involves evaluating whether an internal control is suitably designed to prevent or detect material issues on a timely basis. Controls will not be designed effectively if there are missing controls, or if implemented controls do not meet the appropriate control objective.

Control Design has two elements to be assessed:

• Present – Being present implies a given component or principle exists within the design and implementation of an entity’s system of internal control.
• Fit for purpose – Being fit for purpose implies that the control is well equipped or well suited for its role or purpose.

Control Performance

Control Performance involves evaluating whether the control has been implemented and assessing whether it is operating effectively.

Control Performance has two elements to be assessed:

• Implemented – Implies the control was operationally deployed and continues to exist as a control
• Operating effectively – means the the control is performing well within the organisation.

Control Effectiveness

Control Effectiveness involves evaluating whether the control is effective in meeting the control objective with the following levels:

• Not Applicable
• No Control
• Poor/Ineffective
• Fair/Moderately Effective
• Good/Effective
• Excellent/Highly Effective