Passed Exam Today 1z0-1058-23

• Data Security Policy: The Control Manager must be assigned the correct data security policy to access the controls. Without this policy, the manager will not have the necessary permissions to view the controls within the application1.
• Association of Perspective Hierarchy: The Perspective Hierarchy must be associated with the Control Object for the controls to be visible. This association ensures that the controls are correctly linked to the organizational structure within the application2.
• Approval of Perspective Hierarchy: The Perspective Hierarchy needs to be in an Approved state. If it is not approved, the controls related to it will not be displayed for review in the application1.

References:

• The Oracle documentation on viewing and editing advanced controls provides insights into the necessity of correct data security policies and the approval status of the Perspective Hierarchy1.
• The overview of Oracle Advanced Controls explains the importance of associating the Perspective Hierarchy with the Control Object2.

Upon submission, if no user has been assigned the Risk or Control reviewer and approver roles for a newly created risk definition and its associated control, the system automatically places both the risk (R100) and the control (C100) in the “In Review” state. This status indicates that the risk and control are pending review and are not yet approved or active within the system. The “In Review” state serves as a holding status until the appropriate roles are assigned and the review and approval process can be completed.

References:The information is based on the Oracle Risk Management Cloud documentation and resources, which detail the workflow and states of risk and control objects within the system123.

Once the remediation of a segregation of duties conflict is completed in Fusion Security by removing the conflicting access from the users, the status of the incident in Advanced Access Controls (AAC) should be set to “Resolved”. This indicates that the necessary actions have been taken to address the incident and no further immediate action is required. The “Resolved” status is used to signify that the incident has been dealt with and the conflict has been eliminated.

References:The information is verified and aligned with the Oracle Risk Management documentation, which details the incident statuses and states within the AAC1.

• Reviewing and approving control descriptions: Financial Reporting Compliance allows you to define business processes, identify risks, and create controls to counter those risks. Part of this process involves reviewing and ensuring the accuracy and completeness of control descriptions1.
• Reviewing control assessment results: The platform enables you to assess the validity of the controls over time. This includes reviewing the results of control assessments and any issues related to their effectiveness1.

References:

• Overview of Oracle Financial Reporting Compliance1.
• Oracle Fusion Financial Reporting Compliance Cloud Service2.