Controls assurance addresses the ongoing practice of measuring control performance against expected outcomes and addressing gaps discovered along the way. These controls are essential in reducing inherent risk - defined as risk that exists natively (for a process, system, asset, etc.) in the absence of controls. Controls describe mechanisms that are (or should be) implemented to reduce inherent risk, including process refinements, allocation of resources and technology, etc. Operational risk and control requirements often increase in number and complexity as an organization changes. Successful compliance depends upon the consistent performance of carefully controlled activities.
Why is the concept of controls assurance so important?
In many organizations compliance and reporting activities consist of manually gathering information from various people and systems scattered in different locations. This manual headwind leads to chasing one compliance emergency after another reactively, with the business always a step behind the regulatory change curve. The result for organizations lacking a robust corporate compliance program is often increased audit findings, penalties, and greater potential for brand and reputational damage.
RSA Archer Controls Assurance Program Management
RSA Archer Controls Assurance Program Management provides a structured framework and taxonomy for systematically documenting the organizational control universe, continuously assessing performance of controls at all levels of the business hierarchy, and reporting aggregated results in a variety of concise formats that are approachable for all audiences. Automated testing for a wide range of process and technical controls as well as integrations with leading testing technologies are easily managed. Another critical function of Integrated Risk Management is handling issues that arise. RSA Archer’s built-in Issues Management functionality helps centralize accountability to ensure gaps are identified and remediated efficiently.
With RSA Archer Controls Assurance Program Management organizations can apply clear, accurate controls guidance in support of any compliance objective. By improving the linkage between compliance requirements and internal controls, the business can streamline communication and collaboration and improve reporting on compliance obligations using a standard taxonomy and common risk language throughout the organization. With RSA Archer’s agile and flexible platform and complimentary frameworks, the first and second lines of defense can proactively manage key risk and compliance indicators as the business and its obligations change, reducing time spent researching and linking external requirements to internal controls, and improving overall accuracy and completeness of ongoing control testing activities.