As Risk Management and Audit Professionals, we spend most of our time emphasizing to Senior Management & other stakeholders about the need for controls. We are always ensuring controls are present and that they are adequate. We spend even more time testing these controls to ensure effectiveness.
However, when faced with an incident or situation, often we notice that the controls didn’t operate as well as we intended or hoped they would. We study the details of the incident, identify the root cause, and define action plans. However, still, the same controls end up failing and we have to deal with repeated control lapses. These control lapses could be either design or operating effectiveness related (sometimes minor or major).
When the same controls fail in multiple instances, even after we define/carry out remediation measures, it makes us wonder – WHY DOES THIS HAPPEN?
Riskpro is proud to host a webinar with Industry Expert - Mr. Venkatesh S - Siemens Limited - Head – Risk & Internal Control and Investor Relations, who will share his experiences on this topic. Please join us for the webinar to know more details.