What is assessment in SAP GRC-SPC - GRC Process Controls for SAP?

SAP Term: assessment

• Component: GRC-SPC

• Component Name: GRC Process Controls for SAP

• Description: The periodic evaluation of processes, subprocess controls, and entity- level controls to ascertain whether or not they are designed properly and operating effectively. Assessments can be performed by process owners or management and by using various methods such as survey, automated testing, and self-assessment.

Smart SAP Assistant

• Key Concepts: 
  Assessment is a feature of GRC-SPC GRC Process Controls for SAP that allows users to evaluate the effectiveness of their internal controls. It enables users to identify and address any gaps in their control environment, as well as to measure the effectiveness of existing controls. Assessments can be conducted on a periodic basis or in response to changes in the control environment.
  
  How to use it: 
  To use the assessment feature, users must first define the scope of the assessment. This includes selecting the areas of the control environment that will be evaluated, as well as any specific controls that should be assessed. Once the scope is defined, users can create an assessment plan that outlines the steps and timeline for conducting the assessment. The assessment plan should include details such as who will be responsible for conducting the assessment, when it will be conducted, and how it will be documented.
  
  Tips & Tricks: 
  When creating an assessment plan, it is important to ensure that all stakeholders are involved in the process. This includes not only those responsible for conducting the assessment, but also those who will be affected by its results. Additionally, it is important to ensure that all relevant documents and data are available prior to beginning the assessment. This will help ensure that the assessment is conducted in an efficient and accurate manner.
  
  Related Information: 
  The results of an assessment can be used to identify areas of improvement in the control environment and to develop action plans for addressing any gaps or weaknesses identified during the assessment process. Additionally, assessments can be used to measure compliance with regulatory requirements and internal policies.