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

SAP Term: key control

• Component: FIN-CGV-MIC

• Component Name: Management of Internal Controls

• Description: Value that can be taken by the attribute "Significance of a Control".

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• Key Concepts: 
  Key control is a component of the Management of Internal Controls (FIN-CGV-MIC) module in SAP. It is used to ensure that all internal controls are properly implemented and monitored. It helps to identify and address any potential risks or weaknesses in the system. It also helps to ensure that all processes are compliant with applicable laws and regulations. 
  
  How to use it: 
  Key control can be used to set up and monitor internal controls. This includes setting up rules and procedures for the system, as well as monitoring the system for any potential risks or weaknesses. It can also be used to ensure that all processes are compliant with applicable laws and regulations. 
  
  Tips & Tricks: 
  When setting up key control, it is important to ensure that all rules and procedures are properly documented and updated regularly. Additionally, it is important to regularly monitor the system for any potential risks or weaknesses. 
  
  Related Information: 
  The Management of Internal Controls (FIN-CGV-MIC) module in SAP also includes other components such as Risk Management, Compliance Management, and Audit Management. These components can be used in conjunction with Key Control to ensure that all internal controls are properly implemented and monitored.