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Oracle Modern Best Practice—Continuous Assurance
- Overview
- Security Design
- Continuous Assurance
- Reporting Compliance
- Risk to Readiness
Business Process Risk to Continuous Assurance
In an ever-changing business environment, strong access and separation of duties (SoD) controls should be complemented with smart monitoring of user activities to ensure data security and prevent fraud and error. Leverage AI and machine learning to automate security, transaction, and configuration monitoring to establish a risk-based approach to detecting and mitigating risks and to a high level of assurance throughout your organization. Review incidents using dashboards and ensure follow-up actions with automatic task routing.
Identify and Prioritize Process Risk
Promote risk-based approach by prioritizing from library of best practices. Ensure smooth adoption by starting with small scope and expanding gradually.
Mitigate Residual SoD Risk
Identify weak separation of duty (SoD) controls with pending or accepted incidents on dashboards. Design and deploy mitigating controls to monitor activities that violates SoD rules.
Monitor Key Financial Configurations
For relevant data associated with high risks, deploy automated audit controls to monitor unusual or suspicious changes in settings.
Audit Transactions
Identify transactions that represent high risk of fraud, error, or waste. Continuously monitor unusual or suspicious activities with automated transaction controls.
Address Issues
Get notification on unusual or suspicious activities on a dashboard. Automatically route action items to responsible parties.
Assure Process Integrity
Leverage AI and machine learning to detect anomalies and discover emerging risks. Remediate incidents to ensure effective control and audit readiness.
Support Audit and Compliance
Automatically update audit and compliance documentation with status of automated controls and incident audit trails.