DIGITAL TRANSFORMATION BRINGS IN A NEW ERA OF AUTOMATION – CAN GRC INITIATIVES BE FAR BEHIND IN ADOPTION? Learn the new Mantras in technology that is going to re-define the way users interact with business applications to perform their tasks with ease. We hear very frequently the acronyms “RPA” and “BOT” (and also CHATBOT) that…
Category: Business Controls
Digital Transformation re-defines CCM
In complex system landscapes (especially those that have leading ERP solutions that are capable of handling huge data) defining an approach for Continuous Control Monitoring can be overwhelming. The nuances of the very many configuration, master data and transaction controls in the system, when coupled with authorization mechanisms can influence the effectiveness of the controls.…
Foundation for internal control
Getting on top of access and authorization risks. The most important and basic foundation to be laid for internal controls starts with assessing who are the persons who have authorization to do business transactions and what kind of responsibilities and reach they have within the organization. Very often we find that people are given too…
Internal Controls – its importance
There are many definitions of internal control, and I give below one of them retrieved from Business Dictionary website. (Read more: //www.businessdictionary.com/definition/internal-control.html ) “Systematic measures (such as reviews, checks and balances, methods and procedures) instituted by an organization to (1) conduct its business in an orderly and efficient manner, (2) safeguard its assets and resources,…