This tool highlights questions to consider when implementing and analyzing an organization’s cost-effectiveness and control rationalization plan.
Questions to consider include: Does the current testing process cost-effectively meet the needs of the organization? Is the company avoiding the trap of wading through and independently testing too many controls? Has the organization developed standardized testing programs specifically targeting controls in key problem areas? Does the organization create and distribute reports that effectively summarize the results of testing, refresh testing and re-testing? Are the reports prepared on time so that corrective action can be taken?