Services · Foundational

Risk and Control Matrix Development

ICF02

Develops risk and control matrices for selected finance processes, mapping risks, control activities, control owners, frequency, evidence and review points. Includes risk assessment and scoring, control classification, control effectiveness evaluation, and identification of control gaps with associated action plans.

What changes

Improved visibility over key finance risks and controls, clearer control ownership, scored risk view and stronger basis for testing controls and closing identified gaps.

What you get

Risk and control matrix for the selected finance processes ICF004
Risk assessment and scoring worksheet ICF005
Control gap register with action plans ICF006

What has to come first

ICF01Internal Control Framework Design Recommended

Control framework design sets the structure the matrix populates
NAHNeeds Assessment Report - National Head Quarters or NABNeeds Assessment Report - Branch/District Recommended

Needs assessment identifies the high-risk processes to prioritise

Who is involved

From the National Society's side. This is what the engagement asks of your people.

Your own staff work alongside the adviser throughout, so this is a commitment of their time as well as the Centre's. Ask in the request and you are given the day estimate per role before anything is signed.

Role	What they do
HNS Finance Director	Owns the matrix and control ownership
HNS process owners across finance	Validate risks and controls
HNS Secretary General	Endorses control ownership and gap actions
HNS Board / Audit & Risk Committee	Oversight of residual risk
HNS internal audit function	Uses the matrix for testing, where it exists
GFDC delivery team	Facilitates and drafts

How it is measured

Indicator	Target	Evidence
Priority finance processes covered by a risk and control matrix	At least the agreed priority set	Completed matrix; process list signed off
Risks scored on Likelihood and Impact	100% of recorded risks	Scoring worksheet
Control gaps with an owner and target date	100% of identified gaps	Gap register
High-exposure gaps with action started within target time of hand-over	8 weeks	Gap register status; follow-up note

Tools

3 of 3 ready to download.

ICF004 Risk and control matrix Template XLSX
ICF005 Risk assessment and scoring worksheet Template XLSX
ICF006 Control gap register with action plans Template XLSX

Standards

COSO Internal Control - Integrated Framework
IFAC guidance on internal control

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The form arrives with ICF02 filled in. You can change it, and you do not have to be sure.

Request ICF02

Code: ICF02
Tier: Foundational
Outcome area: 3 · Internal controls, policies, procedures and process effectiveness
Deliverables: 3
Tools: 3 of 3

Comes before

1 service names this one as a prerequisite.

ICF03Process-Level Control Design and Process Maps

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Start from the problem instead of the service code.

What do I need?

Describe the problem, not the service

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