The organization shows it is committed to attracting, developing and keeping competent people in line with its objectives. Points of focus (4). Policies and practices: these set out the competence needed to achieve objectives. Evaluating competence and closing gaps: the board and management assess competence throughout the entity and in outsourced providers against those policies, and act on shortfalls. Attracting, developing and retaining: the entity offers the training and mentoring it needs in order to attract, develop and keep enough competent staff and outsourced providers. Succession: senior management and the board prepare contingency plans for responsibilities important to internal control. Approaches the framework suggests for external financial reporting: setting the knowledge, skills and abilities required; using competence standards in decisions on hiring, training and retention; identifying financial reporting training needs and delivering the training; choosing suitable outsourced service providers; assessing competence and behaviour; assessing whether the finance team is large and competent enough; preparing back-up candidates for key financial reporting roles.
This control maps to 2 controls across 1 other frameworks. If you already hold one of them, the evidence you collected for it is the starting point here rather than new work.
Every mapping shown was judged rather than inferred from wording similarity, and the ones that failed review are published too. See the coverage reports and what was rejected.
The graph holds this control, the 2 it maps to, and the evidence behind each claim, over MCP and REST.