This governance activity includes the evaluation of the performance of the Financial Management process, and aims at identifying improvement areas of the overall process. For example, the foundation and interfaces of the process, all activities and their accomplishment, the adaptability of the process, as well as the roles and responsibilities, including the respective skills.

In addition, the Financial Management process is to be evaluated against the goals and measures to understand its influence on overall IT improvements.

The basis for the improvements is the insights and lessons learned from the observations and analysis of activity accomplishments and results.

Due to the importance of correct financial data, there are additional process evaluations that have to be performed. One example is:

• The process has to be evaluated against legal requirements, from a process and process output point of view; that is, the correctness of financial statements. In some industries and countries, fraud detection is a mandatory part of the evaluation. It might be necessary, due to legal requirements, for this evaluation be carried out by an independent third party.