The only thing worse than a lack of control is the illusion of control. Deficiencies in IT controls could result in a serious breach for a company, or worse – a CIO’s job. Despite these drastic consequences, improving the system of internal controls remains a low priority for many IT organizations and their leaders.
You don’t need to implement every control, but to maximize your risk mitigation at a low cost you should focus on your organization’s greatest risks. How do you begin to understand your organization’s greatest risks you ask? Get the ball rolling with these five steps:
- Assess Your Need for Control – Identify and analyze the severity of IT’s risks; the level of control will be determined by the severity of the risk
- Assess Control Coverage – Map current controls to risks and create an action plan to close the gaps in your current control coverage
- Establish Controls – Develop and communicate controls effectively to ensure adoption
- Monitor and Evaluate Controls – Adapt to changing risks by continuously and effectively monitoring and evaluating your system of internal controls
- Assemble Proof of Effective Controls – Provide artifacts to auditors demonstrating your effective system of internal controls
Want to get started but don’t know how, or simply don’t have the time? Contact Innovative Solutions today to gain back control of your I.T.
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