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

exception - Overview

• Component: FIN-CGV-MIC

• Component Name: Management of Internal Controls

• Description: Negative result when testing a control.

exception - Details

• 
  Key Concepts: 
  Exception is a term used in the Management of Internal Controls (FIN-CGV-MIC) component of SAP. It is used to describe a situation where a control has not been met or an unexpected event has occurred. This could be due to a variety of reasons, such as incorrect data entry, incorrect configuration, or a change in the business process.
  
  How to use it: 
  When an exception occurs, it is important to identify the root cause and take corrective action. This can be done by analyzing the data and identifying any discrepancies or errors. Once the root cause has been identified, corrective action can be taken to ensure that the control is met and the exception does not occur again.
  
  Tips & Tricks: 
  It is important to monitor exceptions on a regular basis to ensure that controls are being met and that any unexpected events are identified and addressed quickly. Additionally, it is important to document any exceptions that occur so that they can be tracked and monitored over time.
  
  Related Information: 
  The Management of Internal Controls (FIN-CGV-MIC) component of SAP provides tools for monitoring and managing exceptions. These tools include reports, alerts, and dashboards that can help identify exceptions quickly and take corrective action. Additionally, there are various training materials available on SAP's website that provide more information about how to use this component effectively.