Internal control testing

INTERNAL CONTROL TESTING

3 challenges

Internal control testing

The 3rd Risk cloud-based risk platform is designed to support risk and compliance professionals with internal control testing

01. Regulation compliance

In the current complex regulatory landscape, businesses encounter the substantial challenge of staying abreast of a growing array of internal policies, external regulatory requirements, and risks. Achieving compliance can prove to be complex.

02. Stakeholder involvement

Securing active engagement from internal stakeholders is one of the most significant challenges in risk management. It's crucial for team members to grasp their roles within internal controls.

03. Risk mitigation

Once areas of risk or non-compliance are identified, the next challenge is to efficiently manage and track the follow-up activities to ensure timely and effective resolution of the issues.

Our solution

An all-in-one risk platform, provided by 3rdRisk

Control library

Centralizing all relevant information about your internal controls

The platform control library offers a comprehensive repository where controls executed by internal teams and third parties are stored and managed. Each control includes a 'heartbeat' visual that graphically represents the effectiveness of the control over time, allowing you to monitor performance and ensure controls are functioning as intended.

Assessment configurator

Make control self-assessments tailored to your specific needs

The internal control assessment configurator offers you the flexibility to define the depth of your control testing. Tailor your approach to include only the first line of defence, incorporate validation by the second line, or extend to a full verification by the third line of defence, aligning with your organisation's risk strategy and governance structure

Assessment scheduler

Optimise your internal control-self assessment process

Optimise your assessment process with our Internal Control Assessment Scheduler. This feature enables you to schedule control assessments efficiently and dispatch them in bulk, simplifying the coordination of large-scale control testing across multiple teams and departments.

Your virtual assistant

Minimise your workload and eliminate repetitive task

Our 3rdRisk platform's virtual assistant is at your service to expedite the internal control testing process. It assists by following up with individuals, chasing overdue tasks, and assigning new tasks to ensure that testing progresses smoothly and deadlines are met.

Control testing

User-friendly workflows designed in collaboration with the business

We have developed intuitive workflows for internal control testing in collaboration with business stakeholders to ensure they are user-friendly and relevant to business needs. These workflows guide stakeholders through the internal control testing process, ensuring clarity, efficiency, and stakeholder engagement.

Trusted by top brands

Schedule a free demo

Client Cases

Learn how client uses 3rdRisk to add value in their organisation.

More Insights, less work: Learn how De Bijenkorf. Efficiently manages supplier risk with 3rdRisk.

Retrieve more info on client studies on Managed Third Party Risk Management (TPRM) for the financial sector

Get Insight how 3rdRisk drives full adoption of risk management and internal control within Hema

3rdRisk makes risk management and internal control for Jumbo simpler, more efficient, and fun

Efficiently mitigating supply risk within just 8 weeks by Schoeller Allibert.

Deloitte is using 3rdRisk to help its clients making their supply chain more secure & sustainable

Your return on investment

Thanks to automation, AI and smart workflows, 3rdRisk users save an average of 140 hours per 10 third-party assessments compared to traditional spreadsheet approaches. This quickly translates to a savings of 7 FTEs when more than 1000 assessments are sent out.

0 hrs -

Design & Configure assessments

0 days -

Response performance

0 % +

Response rate

0 hrs -

Review & assess assessment

Best-practices

In the Content Hub, we have best-practice content available for every industry and risk discipline, from sustainability and cybersecurity to continuity.