Many organisations operate thousands of controls to meet a range of external and internal compliance needs.
The complexity of the control environment can be overwhelming and make it impossible to ensure the controls mitigate the risks you face. This defeats the purpose of implementing the controls in the first place. We call this being clouded by controls.
We have seen controls tested many times in one year, by different teams, to accommodate each compliance, operational and regulatory need. As a result, costs increase and the business suffers significant disruption.
An effective testing cycle should highlight the overlaps and redundancy within your control estate and, more importantly, alert you to any unmitigated risks. It is time for Smart Controls.
Our Smart Controls solution is specifically designed to cater to the needs of your complex control environments. Our approach integrates People, Process and Technology, designed to meet operational, regulatory and compliance requirements, provide necessary management oversight and reduce workplace demands.
Smart Controls works to maximise efficiency by implementing repeatable testing of controls through technology. It also, by its very nature, has been designed to emphasise cost optimisation without compromising quality.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.