Assessing Control Effectiveness — An Essential Part of Every Risk Assessment

Assessing Control Effectiveness — An Essential Part of Every Risk Assessment

Control effectiveness is measured by looking at the maturity of the process. Most people agree that mature processes are documented, but why? Transferring knowledge from the human brain requires conversion from tacit knowledge to explicit knowledge, so that it can be shared, reviewed, updated and tested. Think about it. If we relied on tacit knowledge [...]