Control Testing
Internal Control is a set of policies, procedures, and activities (controls) designed to meet an objective. Controls can be automated or manual; financial initiatives; segregation of duties; the review and approval of authorizations; the preventing or detecting of errors, etc. Controls must be tested and continually evaluated to be relevant to an organization. Control Testing is an integral part of any organization's Internal Control system.
Control Testing can be a long process of assigning controls to employees, creating a testing schedule, defining tolerances and measuring controls and their associated risks. BWise offers an integrated GRC suite that can assist in all these areas of Control Testing, for example integrated modules like BWise Internal Audit and BWise Internal Control.
Continual auditing of the organization is an important part of the Control Testing process and BWise Internal Audit allows for complete audit planning; including assigning work to an auditor or auditing team, working paper management and scheduling audit deadlines. Issues or gaps with controls can be quickly found in the software as a result of an audit and audits can even be re-used from period to period, leading to continual improvement of the Control Testing process.
BWise Internal Control software integrates with all the other modules from the BWise GRC suite, like BWise Internal Audit. Information from audits can be examined periodically to test an organization's controls. These tests can be used in BWise Internal Control to find key risk areas and regularly review your control framework. The software also includes robust, flexible reporting and comprehensive dashboards and graphs on controls.
BWise offers a vigorous Control Testing and GRC solution. Some examples of the other BWise solutions are BWise Risk Assessments, BWise Loss & Incident Database and BWise Risk Analysis. If you have any questions, please contact us at: marketing@bwise.com.
