The new definition of risk control models according to these organizations embodies four basic principles of best practices.

1^st Principle

Risk Control is not limited to a single section or level of an organization. It applies to every aspect and activity in the organization.

2^nd Principle

The best practice of learning and reflecting on the observations made and measuring the control on activities. Through this best practice the environment, objectives, actions and learning processes are maintained.

3^rd Principle

Recognizing critical importance of values and behavior is an essential best practice. It is important to acknowledge that people have the capacity to ensure self-control.

4^th Principle

Paying specific attention to the concept of responsibility for compliance with control is an essential best practice. This is a very confusing aspect of risk control and very difficult to implement successfully.

With the implementation of the new definition of risk control, other issues have come to light. Such as:

• Fear of bureaucracy: employees fear that internal controls will expand to other operations in the organization.
• Inability to ensure accountability: Managers cannot be held responsible or accountable if they do not have the ability to implement control.
• Establishing and implementing local controls: Knowing what controls are needed and when they have to be implemented is a necessary for best practice. The new principles ensure that controls are universal and can be implemented anywhere.
• Maintaining local controls, trust and self-assessment: Self assessment is an essential best practice and will increase the need for improvement. Through self assessment employees can improve themselves by increasing compliance with risk controls.

These new risk control models are bringing new best practices into consideration. They adopt a broader way of interpreting controls. Overall, these new principles have introduced objective setting, concept of monitoring and options improvement for best practices.

This makes it a crucial requirement for organizations to ensure compliance with the new control models for best practices.