A control defines measures to address risks. It describes actions taken automatically in other systems or manually. For example:
- Ensure segregation of duties within payroll functions
- Review changes to master data, including change owner.
As you create risks, you can relate them to controls.
- The relationship indicates that a control mitigates the risk it is related to
- you can relate any number of controls to a risk, or a control to any number of risks.
- A Name, which should suggest what the control does to mitigate risk. You may choose to add a description that expands upon the name.
- A Method. Either Manual or Automatic:
- Manual Indicates the control requires human action.
- Automatic indicates the control runs in a system external to Financial Reporting Compliance.
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