Control Management in Risk Management Cloud

What is a Control?
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.
Relating Controls to a Risk

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 control requires only two values:

  1. A Name, which should suggest what the control does to mitigate risk. You may choose to add a description that expands upon the name.
  2. A Method. Either Manual or Automatic:
As you create a control, you can create a test plan for it. Completed as part of a control assessment, it test whether the control is effective in alleviating the related risks.

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