MIGRATION RISK
Migration risk is a subset of change management ITGC to the extent that the controls over an end-to-end migration from one system to another, can bring upon significant operational risk if not carried out perfectly. A significantly high effort is required to ideate before the deployment as to the exact manner of migration; migration has to cover:
- Data, both dynamic and static
- Functionality mapping from old to new system, and any changes to be adequately familiarised within user groups
- Exception reports that could help track any incorrect migration points
- User acceptance test scripts to be intelligent enough to enable the usage of the new system after adequate granular review
- An emergency roll back plan in case some significant unpredictable issue comes up in migration deployment.
- An auditor or operational risk manager is required to carry out a review of the data integrity and the functionality of the systems that have an impact on the financials of the organisation. This risk is not only restricted to financial reporting, but any risk that could jeopardise the business process, including regulatory, financial and other risks.
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