What is 'control efficiency' in SAP FIN-CGV-MIC - Management of Internal Controls?

control efficiency - Overview

• Component: FIN-CGV-MIC

• Component Name: Management of Internal Controls

• Description: Specifies whether a control can be performed quickly and with minimum effort.

control efficiency - Details

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  Key Concepts: 
  Control efficiency is a term used in SAP's FIN-CGV-MIC Management of Internal Controls component. It is a measure of how well an organization's internal control system is working. It is calculated by comparing the number of errors detected by the system to the total number of errors that could have been detected. 
  
  How to use it: 
  Control efficiency can be used to assess the effectiveness of an organization's internal control system. It can be used to identify areas where the system needs improvement and to ensure that the system is working as intended. 
  
  Tips & Tricks: 
  When calculating control efficiency, it is important to consider both the number of errors detected and the total number of errors that could have been detected. This will give a more accurate picture of how well the system is working. 
  
  Related Information: 
  Control efficiency is related to other measures of internal control effectiveness, such as accuracy and completeness. It is also related to other measures of organizational performance, such as cost savings and customer satisfaction.