Product Launch: Impero Control Testing Module

We’re excited to announce the general availability of a new Impero module: Control Testing. 

Why does this matter? Impero has always been a valuable tool enabling the first- and second lines of defense. Our cloud-based platform empowers control owners and reviewers to manage risk and controls across the organization.

With the addition of Control Testing module, Impero strengthens the effectiveness of controls by allowing for a fully integrated third line of defense all in one centralized risk & control platform.  

Control Testing is an add-on module. Try it yourself in this interactive demo →

Ensuring the audit readiness of your internal controls

Impero provides a structured risk management and internal control platform. The Impero Control Module is a central feature to setting up controls and ensuring that they’re performed by stakeholders across your organization. In the control module, each individual control is always set up with multiple lines of defense in place. This includes a control performer that has the responsibility to perform the control, as well as a first- and second reviewer to ensure adequate oversight and monitoring.  

Our audit log ensures full transparency into when each activity is performed by the control performer, as well as reviewers. This also helps ensures that controls are completed and that documentation is submitted, when requested.

But what about the actual effectiveness of controls?

Based on the COSO framework, the Impero platform is designed to ensure an optimal control environment. The COSO framework emphasizes monitoring activities as a critical component - and while multiple reviewers provide a strong basis, comprehensive monitoring also requires effectiveness testing through regular testing of the control’s effectiveness.

That’s why we’re excited to bring you a Control Testing for a singular and unified experience from control creation to testing & evaluation.

What is Control Testing?

Control testing is a vital part of any effective program for risk management and internal controls.  

Control testing is the structured process of verifying that these controls are:

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Through control testing, you can determine if your controls are structured and designed correctly to achieve the desired risk mitigation outcome. From a design perspective, you can set up tasks within the test to look at whether the control is e.g. asking for the right type of documentation to ensure adequate proof. Whereas from an operational perspective, the test can look at whether control performers are uploading the right documentation on time on a regular basis – i.e. is it operationally functioning and being completed.

Why does it matter?

By performing regular control testing, you can prove the effectiveness of your internal control environment. The regular testing ensures that you can take a proactive approach to any weaknesses or deficiencies in your control environment ahead of audits. This is important and helpful when it comes to:

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By having proof of control effectiveness, there is the opportunity for companies to reduce the time needed for audits – and ultimately reduce audit costs.  

An introduction to Impero’s Control Testing

The Impero Control Testing module is a straightforward feature that allows you to design your own tests and sampling. The flexibility of the module ensures that you can design testing that makes sense for your organization’s unique set up.  

Rather than pre-determine a testing framework, Impero ensures that tests can be defined to meet both global requirements, such as from your internal audit team, as well as local legislation which may be of greater importance for external audits evaluating specific entities from a local compliance perspective.

The Impero Control Testing module allows you to:

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With regards to the design and distribution of control tests, Impero allows you to:

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If you’d like to see Control Testing in action, then check out our interactive demo for a walkthrough →

We’ve also got detailed step-by-step articles in our Help Center.

‍Effective control management and testing in Impero

By utilizing control testing in Impero, your organization can achieve a more effective control management set up. This is an essential part of your risk & internal control framework that enables you among other things to:

Getting started

The Control Testing module is now available as an add-on feature for all customers. Not enabled in your account yet? Reach out to your Customer Success Manager for more details.