Why segregation of duties and access control?
With the heightened focus on corporate governance and internal controls in today’s business environment, organisations need to implement effective measures for achieving regulatory compliance and meeting a variety of stakeholder demands – among them the demands for a better and effective Governance, Risk management and Compliance (GRC) programme. Implementing effective and efficient internal controls is an important aspect of a GRC programme. Internal controls are mechanisms to help organisations achieve their business objectives while containing risks, which may lead to financial, operational and reputational losses. Effective and efficient internal controls are directly correlated to an organisation’s ability to execute business transactions, ensure productivity, profitability and sustainability. Internal controls in a business environment are often enforced through segregation of duties in business processes. Different roles and responsibilities are assigned to each individual to pr
