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Management controls

Reporting is a powerful tool. If a process is reported on, it is likely that the process will be performed better. Sign up to find out more!
Quality control certification, checked garantee of standard of company product.

Reporting is a powerful tool. If a process is reported on, it is likely that the process will be performed better.

Independent review of treasury results and reports by a person outside treasury (often internal audit in a large company) can add control by becoming familiar with the reports and being able to notice unusual trends or numbers.

It is important to establish process measurement and key performance indicators (KPIs) around those measures. By measuring and targeting key processes, such as confirmation speed and failure rate, the control environment is improved. For example, the cost of errors or fraud in trading foreign exchange instruments will be lower if the confirmation team has a one hundred percent record in confirming and matching (and hence identifying mistaken or unauthorised transactions) within thirty minutes of a trade, compared to a similar team who only confirm ninety percent of transactions within twenty four hours.

A system can record which user has done what to which transactions, and when. This allows transaction histories to be audited and users to be held accountable for their actions.

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Treasury: The Importance of Governance, Ethics, Compliance, and Audit

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