Compliance · Monitoring · Component
The test record
What was sampled, what was found, and against what evidence — testing operation rather than documentation.
The deliverable
What it is
Confirming that a procedure is documented tells you nothing about whether it was followed last month. The two are different questions and only the second matters.
The workable method is to pick real transactions and follow them, asking for the evidence the control should have produced.
One level in
What it is made of
Each element is a constituent part of the component. Follow one to see the attributes it carries.
The sample
What was selected for testing, and how.
3 attributes: Sample size · Selection method · Population period
LearnThe method
What was actually done to test the control.
3 attributes: Method · Evidence examined · Performed by
LearnThe result
What was found, per item and overall.
3 attributes: Exceptions · Exception detail · Conclusion
Learn
Pick real transactions and ask for the evidence the control should have produced. Documentation review is not a test.
The other components in monitoring
The monitoring plan
What is tested, how often, and by whom — weighted by consequence rather than spread evenly.
LearnThe findings log
Open findings with owner and date, tracked to closure — because a finding raised and not closed is a documented failure.
Learn