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Show Me: How to Build an Effective Control Testing Program

I believe you’d be surprised at the number of organizations that do not have a fully structured approach to evaluating the effectiveness of their system of controls. Whether their approach is not formally defined and communicated, inconsistently applied and/or inefficiently managed and monitored, they are at risk of not fully understanding whether their controls are meeting their stated objectives or worse, being completely caught off guard by a critical control failure that could lead to much more serious issues. To that end, we offer the following considerations as you evaluate the effectiveness of your control testing program.