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We are here to help with scoping and risk assessment, evaluate operating controls, design controls that need adjustment, and mine remote working processes to reduce potential control deficiencies. - PDO Solutions - June 8, 2020
Working Remotely - Expectations of Controls
Topic for the month of June 2020
Remote working requires new controls to stabilize the organization’s business processes.
Management review controls. Controls that rely on the comparison of current financial information to the budget, forecast, or prior-period results, needs assessment and updating.
Transaction processing controls. Monitoring processes and controls to monitor the effectiveness of daily/weekly transaction processing controls needs assessment and updating.
Automated controls. Identify which automated controls are most susceptible to failure. Verify that appropriate mitigating controls exist and are operating effectively to mitigate any risks arising from a failure to operate the automated controls.
Changes in current technology transformation.
An up-front reassessment of timelines for key projects to identify revised completion dates and to commence planning for any adverse consequences due to anticipated late delivery is required.