What is maturity gap in SAP FIN-CGV-MIC - Management of Internal Controls?

SAP Term: maturity gap

• Component: FIN-CGV-MIC

• Component Name: Management of Internal Controls

• Description: The difference between the current control maturity entered during control design assessment and the specified control maturity target.

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• Key Concepts: 
  Maturity gap is a term used in the Management of Internal Controls (FIN-CGV-MIC) component of SAP. It is a measure of the difference between the current level of internal control maturity and the desired level of internal control maturity. The desired level is determined by the organization's risk management strategy and objectives. 
  
  How to use it: 
  The maturity gap can be used to identify areas where internal controls need to be improved or strengthened. It can also be used to measure the effectiveness of existing internal controls and to identify areas where additional controls may be needed. 
  
  Tips & Tricks: 
  When assessing the maturity gap, it is important to consider both the current and desired levels of internal control maturity. This will help ensure that any changes or improvements made are appropriate for the organization's risk management strategy and objectives. 
  
  Related Information: 
  The maturity gap can be used in conjunction with other measures, such as risk assessment, to identify areas where additional controls may be needed. It can also be used to measure the effectiveness of existing internal controls and to identify areas where additional controls may be needed.