Understanding the organization’s internal control program and its financial reporting processes. Identifying the IT systems involved in the initiation, authorization, processing, summarization and reporting of financial data; Identifying the key controls that address specific financial risks; Designing and implementing controls designed to mitigate the identified risks and monitoring them for continued effectiveness; Documenting and testing IT controls; Ensuring that IT controls are updated and changed, as necessary, to correspond with changes in internal control or financial reporting processes; and Monitoring IT controls for effective operation over time.