Future of Controls

In our rapidly transforming world, where consequences are far greater, we believe controls are still not working. Despite all the investment and increasing requirements and regulations, we believe controls are not prioritised and they are largely focused on financial reporting. Typically these controls only become a priority for organisations when they fail, resulting in increasing costs and a reactive approach. Overall, we believe the status quo is broken and a new approach is required.

At Deloitte, we have an experienced team of controls professionals, supported by world-class methodologies, case studies and technology. Below, you can find our latest insights, publications as well as links to register for our flagship events. If you would like to know more or ask any questions please contact us using the various links on this page. We would be delighted to support you on the journey to the Future of Controls.

The Future of Controls: Summer Webinars

We devised and carried out a series of 90 minute webinar sessions over the summer to deep-dive into the topics you said you wanted to hear more about. The events were a mix of guest speakers presenting, answering any questions and discussing examples/contributions.

The schedule of webinars that were carried out is below, ordered in a logical flow of topics, each on a different stage of the control transformation journey.

Webinar Title

Description

Key contacts

Creating the business case for control transformation

Starting a controls transformation initiative can be difficult, complex and it can be hard to know where to begin.  You might not know how to define control transformation, how to prioritise initiatives, and indeed when to draw a line under phases so that you are delivering incremental change and sequencing activities in the right way. We presented our thoughts on control transformation and how the best control transformations have set themselves up for success.  We explored some of the common challenges and pitfalls, some of the solutions and options, so that you can leave the session with some takeaway actions to take forward in your role.


Ani Sen Gupta

Defining the scope and creating a supporting operating model

As the world around us is rapidly changing, organisations are facing increased operational, regulatory and financial complexity with far greater consequences for getting things wrong. We explored how a rethink to the control operating model and framework is leading to better integration between key risks and controls to provide clarity, avoid needless duplication and to drive cost efficiency.


Ian Orgill

Lauren Taylor

Tooling up to embed my control framework - Integrated Governance, Risk & Compliance (GRC) solutions

With the advent of integrated audits and the importance which stakeholders place on internal controls, organisations are looking at options to make more effective and efficient internal control environments. We explored how organisations can unify their governance, risk and compliance activities from a reactive, fragmented approach to anticipating and mitigating risks to drive control and business performance. 


Jose Ruiz

Digital risk and controls

 

Digital is expanding opportunities and opening markets. But with it comes faster, sharper competition, pressure to keep pace. And Risk.  Are we fit for the digital age? How can we build confidence in ‘being digital’? To thrive in this new digital eco-system, you need to be digitally fluent, confident to adapt to new and familiar digital risks. We explored how you can turn Digital Risk to Digital Advantage.


Charlie Gribben

Evolving and becoming more efficient - “The new era of Robots”

With the rise in cost effective, low cost RPA solutions, we explored how organisations are utilising robotics to remediate and transform control environments (e.g. through control automation, control assurance and/or by integrating key control technologies), providing confidence and robustness around key processes and controls.


Daniel Mowbray

Evolving and becoming more efficient - “The next wave of Continuous Controls Monitoring & Assurance”

The emergence of data analytics technologies have opened windows to continuous control monitoring (CCM) and assurance solutions. We explored how CCM solutions are providing organisations predictive and proactive real time insights into users, transactions and applications, driving control remediation and compliance. By using automated tools, the required internal capacity for testing controls can be reduced significantly, while the effectiveness, speed and quality of the monitoring control activities are enhanced.


Jose Ruiz

Daniel Mowbray

Preparing for UK SOX

As the UK continues on the journey of reforming Corporate Governance, companies and auditors are facing tough new obligations that will re-shape the approach to financial controls. During this session, we reviewed the current position and recent developments, likely impact on corporates as well as considered how you can energise your approach to financial controls using digital technologies and operating models to create a high value asset, learn from the mistakes of US SOX and avoid solely creating a costly compliance exercise.


Sonya Butters

Mike Stallard

Victoria Cohen

How organisations are transforming their control environments

We delved into real life case studies of how organisations have and are transforming their control environments, including how organisations are testing controls in a cost effective and efficient manner. We heard directly from clients as they showcase how they have transformed their control environments and their plans for the future.


Peter Balmforth

Insights