HOW DO YOU ENSURE YOUR

CONTROLS ARE EFFECTIVE?

CONTROLS PERFORMANCE VERIFICATION

PRESENTERS
Phil Shomura, ACL
Carole Switzer, OCEG

99/99/99
Discussion Participants

Carole Switzer Phil Shomura

Co-Founder and President, Senior Product Manager,
OCEG ACL Services

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 Housekeeping

 Download slides at https://go.oceg.org/how-do-you-ensure-your-

controls-are-effective

 Answer all 3 polls

 Certificates of completion
(only for OCEG All Access Pass holders)

 Evaluation survey at the close of the webinar

 Find the recording on the Resource tab of the OCEG site, under
Archived Webinars

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 Learning Objectives

1. Outline the challenges in controls

performance verification

2. Define the key steps and

information needed for assurance

3. Describe the benefits of controls

verification technology solutions
 Poll 1

Do you have an OCEG All Access Pass (a paid membership) and would
you like to receive CPE credit for this event?
a. Yes, I have an All Access Pass and I would like to receive a CPE Certificate
of Completion for this event

b. I have an All Access Pass but I don’t need a CPE Certificate of Completion

c. No, I do not have an All Access Pass but I would like to get one and receive
CPE credit for this and future webcasts I attend

d. No, I do not have an All Access Pass and I don’t want to buy one at this
time (so I won’t get CPE credit for this event)

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The Scope of the Playbook

How to have assurance

that controls are
operating as designed
with an acceptable level of
maturity.

https://go.oceg.org/controls-performance-
verification-playbook

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The Playsheets

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 Collect data on a business process
and its controls

 Evaluate variation from control

performance objectives

 Use information to establish

acceptable limits of variation –
control limits
 Discussion Questions

 The first step of capturing and analyzing control deviations is important but is
it something that is being done regularly?

 If not, how are people otherwise establishing control limits?

 What is preventing more companies from undertaking this analysis on a

regular basis?

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 Poll 2

When establishing control limits in your organization, which of these

areas could be most improved by applying technology? (select one)

a. Visualizing data to spot trends and outliers

b. Investigating the root cause when a control limit is breached

c. Revisiting and revising control limit periodically, based on new data

d. Triggering remediation workflows when a control limit is breached

e. I don’t know

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 Operational Performance Review Summary

For each control:

 Track findings from control review

 Identify and describe issues

 Record notification to control

owner, response and updates
■ Slide from Phil on performance review

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 Controls Operation Verification Overview

Maintain an overview of controls

operation:

 status of operation

 scheduled and overdue tasks

 related processes that may be affected

 responsible parties

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 Controls Maturity and Gap Analysis

Evaluate & rank each maturity:

 Mapping to risk
 Mapping to other controls
 Frequency of operation
 Triggers for review
 Escalation criteria
 Ownership
 Historic data
 Accuracy of data
 Controls Maturity and Gap Analysis Examples

 No clear mapping = Low

 Incomplete mapping in spreadsheet = Medium
 Complete mapping viewed in technology system = High

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 Discussion Questions

 How are these steps in controls performance verification handled in

purpose built technology?

 What are some of the advantages over manual management of the

verification process?

*Demonstration*

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Technology Selection Checklist Part One

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Technology Selection Checklist Part Two

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 Poll 3

Which of the following areas is most important to your organization?

a. Data Access and Blending

b. Data Automation Workflow

c. Storyboards and Reporting

d. I don’t know

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Questions?

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