Description

A Risk Control Matrix (RCM) documents the sub-process level risks facing the organization and the controls in place/ recommended to keep those risks within acceptable levels.

This RCM development service provides spreadsheet-oriented documentation, compliant with the COSO framework, of sub-process level (level 2 to 3) risks and recommended controls which can then be customized and analyzed as per your organization’s industry and business model. Any recommended controls currently not in place can be placed as an action plan so that the overall internal controls within that sub-process may be strengthened and aligned with better practices.

The benefits of having well-defined Risk Control Matrix include:

• Improved risk management: A well-defined RCM helps companies identify, assess, and prioritize risks, allowing for a more effective risk management process.
• Increased visibility: RCMs provide a clear and concise overview of the risks associated with a specific sub-process, helping to increase visibility and transparency.
• Better decision-making: RCMs provide a framework for decision-making, helping to ensure that risks are managed effectively and efficiently.
• Increased accountability: RCMs help to assign responsibility for managing specific risks, promoting a culture of accountability within the organization.
• Enhanced compliance: RCMs help companies ensure compliance with laws, regulations, and best practices, reducing the risk of legal and regulatory violations.

Delivery Instructions: While checking out, please mention the sub-process name, industry, or any other special instructions related to the order in the “Additional Information” section of the Check-out form.

Delivery Timelines: Within 3 working days after placing the order.