STRATEGY POLICY INVENTORY DATA
SYSTEM PROCESS
CONTROL SUSTAIN
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ROAD TO LEASE COMPLIANCE
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CONTROL
Ongoing Risk Management
With change comes risk, and your organization must consider any risks related
to this regulatory change both now and in the future. This means there must
be an ongoing process to monitor any controls you have implemented, and a
process to modify them should you identify any areas of risk.
To make sure enhanced controls related to your leases are implemented
properly, companies are wise to document the design and implementation
stages. Proper planning and documentation can heighten the confidence
management, auditors and audit committee members have that the controls are
solid.
There is some evidence that with these new standards will come enhanced
scrutiny from your auditors, who are expected to improve their control testing.
Getting robust control systems in place, as well as documented and tested, will
ensure you are well positioned for any scrutiny.
CONTROL
