Which method is MOST effective for identifying overlapping key controls in business application systems?

The most effective method for identifying overlapping key controls in business application systems is to replace manual monitoring with an automated auditing solution. Automated solutions typically have the capability to analyze large volumes of data more efficiently and can continuously monitor systems for compliance and control effectiveness. This allows for quicker detection of control overlaps since automated tools can scan for similar control objectives or processes across multiple systems without the limitations of human oversight.

Such solutions can provide comprehensive reporting and analytics, making it easier to pinpoint areas where controls may be redundant or duplicative. Unlike manual approaches, which may miss nuances due to human error or simply lack the capacity to analyze extensive datasets, automated auditing can enhance the accuracy and depth of the analysis.

Other methods, while useful in their own right, do not necessarily provide the same level of thoroughness or efficiency when it comes to identifying overlapping controls. For example, reviewing system functionalities attached to complex processes primarily focuses on understanding system features rather than actively identifying redundancy in controls. Submitting test transactions through an integrated test facility tends to verify whether the controls are functioning as intended but may not reveal overlaps. Testing controls to validate their effectiveness is crucial in assessing control performance but, like the previous approaches, falls short in proactively identifying redundancy in controls across various business applications.