Risk Management

Summary:

• Internal controls are activities performed within an organization to address risks and meet compliance requirements.
• They are linked to policies that define how the activities should be performed.
• Eramba allows users to document and test these controls through an audit process, where evidence is gathered and the control's effectiveness is evaluated.
• The video covers the setup and customization of the internal controls module in Eramba, including creating controls, defining audits and maintenances, and configuring notifications to manage the control testing process.
• The goal is to provide a clear view of how the controls relate to the organization's problems and risks, and to ensure the solutions are working as intended.

Common Questions:

• Internal Controls - Testing Teams vs Testing the Process