Internal Control
by
Oktay Türetken
—
last modified
Apr 25, 2012 10:11
Definitions
Term: term |
Domain: Cross-cutting issues | ||||
---|---|---|---|---|---|
Engineering and Design (KM-ED) |
Adaptation and Monitoring (KM-AM) |
Quality Definition, Negotiation and
Assurance (KM-QA) |
Generic (domain independent) |
||
D o m a i n : L a y e r s |
Business Process Management (KM-BPM) |
Actions that should help an organization achieve its objectives regarding effective and efficient operations; reliable internal and external reporting; and compliance with applicable laws, regulations, and internal policies.Internal Controls can be preventive or detective. Preventive controls help prevent violations; examples include authorizations, segregation of duties, and supervisory approval. Detective controls often produce information regarding an occurred violation to help people understand its causes; examples include management reviews and reconciliations [Turetken et.al., 2012] {SYN: Control}. | |||
Service Composition and
Coordination (KM-SC) |
|||||
Service Infrastructure (KM-SI) |
|||||
Generic (domain independent) |
Internal control is defined as a process affected by an organization's structure, work and authority flows, people and management information systems, designed to help the organization accomplish specific goals or objectives. It is a means by which an organization's resources are directed, monitored, and measured. It plays an important role in preventing and detecting fraud and protecting the organization's resources, both physical (e.g., machinery and property) and intangible (e.g., reputation or intellectual property such as trademarks) [COSO, 1994] {SYN: Control} |
Competencies
- Tilburg: Business Process Compliance Management; Oktay Turetken, Amal Elgammal, Mike Papazoglou, Willem-Jan van den Heuvel
Scenarios
TBD
References
- [Turetken et.al., 2012] Turetken, O., Elgammal, A., van den Heuvel, W-J., Papazoglou, M. (2012). Capturing Compliance Requirements: A Pattern-Based Approach, IEEE Software, May/June 2012
- [COSO, 1994] Internal Control—Integrated Framework, Committee of Sponsoring Organizations of the Treadway Commission (COSO), 1994.