Learning from experience Flashcards
1
Q
What is a consideration for firms when implementing controls?
A
The cost of controls
2
Q
What is a critical control?
A
A control that reduces a firm’s most critical risks.
3
Q
What is the process for learning from controls?
A
- Planning - strategic and business objectives
- Implementing - core processes and functions.
- Measuring - KPIs
- Learning - Continuous improvement
