The template shows is a modern concept in the field of control and risks. It is a system that helps an organization to improve its ability to achieve its objectives.
The template based on questionnaire technique: “One of the most important advantages of the questionnaire technique is its wide scope and the limitedness of effort and cost in comparison with other techniques. The only drawbacks of this template is the possibility of lack of seriousness by respondents, especially in the case of no follow-up, and the low response rate.
This technique is based on performing Control Self-Assessment through designing a questionnaire including a number of fully performed, not performed and partially performed questions. The results of the questionnaire are then analyzed to reach the required evaluation of internal control.
This internal control self assessment is a great tool to help and assist you in ensuring compliance with all the relevant requirements and make the control easier to see which tasks have been completed and which you still need to tackle.
Conclusion and customization
This is a highly versatile, very sophisticated financial model template, and is also user-friendly.