Master Data Governance: law, practical example, evidence, risk and Finin2min action workflow.
Customer, vendor, item, tax, bank and employee masters require ownership, approval and duplicate controls.
ERP control framework
Read with the current rules, notifications, circulars, portal instructions and binding judgments applicable to the event date.
Fix person, entity, role, activity, period, location, threshold and regulator.
Separate statute, delegated law, regulator guidance, contract and internal policy.
Reconcile documents, systems, filings, accounts and approvals.
Use maker-checker and change reports.
A vendor bank account changes before payment run.
Finin2min decision rule: reperform the analysis when a material fact, date, role or legal instrument changes.
Weak master controls enable fraud.
Common additional failures are stale law, incomplete authority, inconsistent records, undocumented judgment and missing cross-law analysis.
| Stage | Control | Output |
|---|---|---|
| Facts | Freeze parties, dates, amounts and documents | Fact sheet |
| Law | Open current primary sources | Legal map |
| Evidence | Resolve inconsistencies | Evidence index |
| Decision | Approve, remediate, disclose or escalate | Signed note |
Customer, vendor, item, tax, bank and employee masters require ownership, approval and duplicate controls.
ERP control framework
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail.
Use maker-checker and change reports.
Source review: 4 July 2026. Verify later amendments and case status before professional reliance.