White Paper - Control Assessment: A Framework

Whitepaper

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Author

Michael Parkinson BSc (Hons), GradDipComputing, CIA, CISA, CRMA, CRISC, PFIIA

Date

2025

Topics Explored

Internal Audit, Control

Format

White Paper

Extract/Description

This White Paper outlines a structured approach to analysis of individual controls against relevant risks, and points to a way that the auditor can make the necessary assessment.
The same process can be applied in assessing whether a proposed control will address an identified gap.

Key Points

1. Control design is not only about so-called hard controls – processes and procedures – but also encompasses soft controls such as competency, ethics, and internal discipline and culture.
2. Procedures to monitor the performance of controls are a necessary part of the control design.
3. The framework provides the auditor with a mechanism to formally consider each aspect of control design, and provides a basis for making the assessment of whether a control system is adequate.

Relevant Industries

All

Level of Assumed Knowledge

Beginner

Aligned to Global Internal Audit Standards

Yes