Control activities as part of internal control help to ensure that management directives to mitigate risks to the achievement of objectives are performed whereas inherent process controls as part of operational risk management aim to ensure desired outputs are achieved.
The ProcessHorizon web app supports the design of a controls model on the subprocess layer related to the parent processes. Control activities can thus be modeled with the identified risks as input and risk responses as output of a control. The control objective and the control attributes like control significance (key/standard control), control purpose (preventive, detective), automated vs. manual control can be recorded in the process controls description. A control owner should be assigned to each control.
ProcessHorizon is the smart web tool for fast-track documentation of processes & controls e.g. by an audit junior and review by the audit team and auditee. Any changes during the audit or recommendations for process and controls improvements can be reflected with minimal effort (within seconds or minutes) and the updated process & controls maps can be reviewed and communicated instantly.
ProcessHorizon is useful for process & controls documentation in support of internal & external audits facilitating a holistic understanding of processes & risks of the audit area.
Free trial of the ProcessHorizon web app: https://processhorizon.com