Continuous Monitoring: Match Your Business Needs with the Right Technique

  • by Jamie Levitt, Manager, PwC
  • June 21, 2012
See how continuous monitoring techniques such as continuous transaction monitoring (CTM) and continuous control monitoring (CCM) can help you maximize risk coverage while minimizing your efforts to operate and evaluate controls. SAP offers two continuous monitoring tools. Understand which organizational goals can be accomplished through use of SAP Process Control, a CCM tool, and use of the Oversight Systems’ CTM tool.
Key Concept

Business change introduces new risks to organizations and implies that historic ways of doing things may not be adequate to mitigate these risks. As processes evolve or are replaced, one-time applicable controls and risk may become irrelevant and outdated. Process optimization is the activity of revisiting current processes, controls, and risks to refine the activities and perform the process more effectively. It usually is done through the following actions:

  • Identify and replace inefficient controls or activities
  • Remove controls or activities that are not needed
  • Tailor current controls or activities to better fit with the business process and technologies
  • Identify unmitigated risks and implement controls or activities that mitigate those risks

All companies require process optimization to adapt to constant changes in their business, such as new technologies, new methods of processing transactions, and new business units that are opened or acquired.

Whenever you select the controls that best fit the business, there is an inherent struggle with balancing business flexibility and minimizing the cost of supporting controls. Typically, there is a trade-off between configurable controls (low cost to implement and operate) and detective controls (allow business processes flexibly at a much higher cost).

Jamie Levitt

Jamie Levitt, CPA, CISA, is a manager for PwC in the US. Jamie has more than nine years' experience in SAP. Jamie has helped develop a significant amount of PwC’s thought leadership and tools, including SAP ITGCs/Basis for PwC globally. She has extensive experience with risk and controls optimization programs from both an external audit and advisory capacity, training of the PwC global firm, and client training. Her current core focus is continuous monitoring methodologies specializing in the process solutions of continuous controls monitoring and continuous transaction analysis. Jamie has spoken at GRC in 2011, 2012, and now in 2013. Previously Jamie worked for Turnkey Consulting in the US. She led Turnkey's US operations. Prior to her role at Turnkey, she worked for PricewaterhouseCoopers in the UK and US as a manager.

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