Monitor your operations
Internal control is a process that aims to ensure that your organization is on course to reach its desired results, performance and financial position.
With Stratsys, you can create a platform for the planning and evaluation of internal controls based on your organization's needs. It's easy to compare how the planning and follow-up occurred in the various units of the business, and because everything is done in the same system, auditors are easily able to review the work.
Plan it - Creating a workflow
With Stratsys you can create a custom workflow in which risks, checks, monitoring and activities can be fully adapted to regulatory needs such as the COSO methodology for internal control, or the regulatory framework for FISH (2007: 603).
You can assign responsibility throughout the organization with a few simple clicks, and if necessary the risk analyses and plans can be integrated with process mapping in the business.
Do it - Managing the risks
Each unit in your organization has an overview of their significant risks, and they can define the control elements that best manages them. Where improvements are needed, activities can be created, responsibility delegated and a due date assigned. The activities are automatically added to the personal to-do list of the person responsible.
Review it - Analyze and document
Thanks to the excellent overview of risks, control elements and the responsibility for risk management, it is easy to continuously analyze the organization.
The interactive risk matrix is just one example of functionality that helps in this analysis. Analyses and documented follow-up can be automatically added to the internal plan before reporting to the management, board or committee.