How to add a new control?
There are a few ways to add a new control to your engagement file.
To add a new control:
1. On the top right hand corner, click the + button.
2. Select control option
3. A new control pop-up will appear like this. Fill out the dialog to enter your new control:
a. Title: Enter the title of your control. This will be the name of the control used throughout the Agile engagement.
b. ID: We recommend for the ID you utilise your initials and the next number in sequence. All IDs must be unique. For example, if your name is Michael Wayne and this is your first Control you’re adding, your ID will be MW-1.
c. Brief Description: This is where you can explain the purpose of the client’s control.
d. Areas: If this control is designed for a specific Financial Area, you may select that here. If the control is more global, then you can leave specific Financial Areas as blank.
e. Type: Determine what type of control this is. There are ‘three’ options you can choose from; Entity, IT or Financial Statement.
f. Risks: What risks are associated with this control. Use the checkboxes to select.
g. Frequency: How often is this control utilised by the firm.
h. Execution: Is the control manual, automated or IT run?
i. IT Dependent Report and IT System Affected are additional fields you can classify your control with. Use the + buttons to add as many as you require.
j. Classification: What is the purpose of this control? Is it designed to Prevent or Detect deficiencies or both?
k. Key Control: Is this a Key control to the firm. If this control is unsatisfactory would it generate potential high risk to the firm?
l. Maturity: How mature is this control? How many iterations has it had?
m. Effect: Is the control a direct or indirect control?
n. Control operator: Which key Contact within the firm is the operator of this control?
o. Save: Press the save button to save the control to the engagement.
The control has now been added to the engagement. Once you have finalised your testing of internal controls you then need to update your controls in the Control report (2-230) and appropriately classify the Design and Implementation and the Operating effectiveness evaluation. See FAQ How do I access the Agile Control Report?
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