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Control Self-assessment
Control self-assessment is a technique developed in 1987 that is used by a range of organisations including corporations, charities and government departments, to assess the effectiveness of their risk management and control processes. A "control process" is a check or process performed to reduce or eliminate the risk of error. Since its introduction the technique has been widely adopted in the United States, European Union and other countries. There are a number of ways a control self-assessment can be implemented but its key feature is that, in contrast to a traditional audit, the tests and checks are made by staff whose normal day-to-day responsibilities are within the business unit being assessed. A self-assessment, by identifying the higher risk processes within the organisation, allows internal auditors to plan their work more effectively. A number of governmental organisations require the use of control self-assessment. In the United States it is a requirement of the FFIEC ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Annual Report
An annual report is a comprehensive report on a company's activities throughout the preceding year. Annual reports are intended to give shareholders and other interested people information about the company's activities and financial performance. They may be considered as grey literature. Most jurisdictions require companies to prepare and disclose annual reports, and many require the annual report to be filed at the company's registry. Companies listed on a stock exchange are also required to report at more frequent intervals (depending upon the rules of the stock exchange involved). Content Typical annual reports may include: * General corporate information * Operating and financial review * Director's Report * Corporate governance information * Chairpersons statement * Auditor's report * Sustainability and ESG information * Contents: non-audited information * Financial statements, including ** Balance sheet also known as Statement of Financial Position ** Income statement ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
COBIT
COBIT (Control Objectives for Information and Related Technologies) is a framework created by ISACA for information technology (IT) management and IT governance. The framework is business focused and defines a set of generic processes for the management of IT, with each process defined together with process inputs and outputs, key process-activities, process objectives, performance measures and an elementary maturity model. Framework and components Business and IT goals are linked and measured to create responsibilities of business and IT teams. Five processes are identified: Evaluate, Direct and Monitor (EDM); Align, Plan and Organize (APO); Build, Acquire and Implement (BAI); Deliver, Service and Support (DSS); and Monitor, Evaluate and Assess (MEA).COBIT 2019 Framework: Introduction and Methodology from ISACA The COBIT framework ties in with COSO, ITIL, BiSL, ISO 27000, CMMI, TOGAF and PMBOK. The framework helps companies follow law, be more agile and earn more. Below ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Technology
Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of data . and information. IT forms part of information and communications technology (ICT). An information technology system (IT system) is generally an information system, a communications system, or, more specifically speaking, a computer system — including all hardware, software, and peripheral equipment — operated by a limited group of IT users. Although humans have been storing, retrieving, manipulating, and communicating information since the earliest writing systems were developed, the term ''information technology'' in its modern sense first appeared in a 1958 article published in the ''Harvard Business Review''; authors Harold J. Leavitt and Thomas L. Whisler commented that "the new technology does not yet have a single established name. We shall call it information technology (IT)." Their definition consists of three categories: techniques for pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Institute Of Standards And Technology
The National Institute of Standards and Technology (NIST) is an agency of the United States Department of Commerce whose mission is to promote American innovation and industrial competitiveness. NIST's activities are organized into physical science laboratory programs that include nanoscale science and technology, engineering, information technology, neutron research, material measurement, and physical measurement. From 1901 to 1988, the agency was named the National Bureau of Standards. History Background The Articles of Confederation, ratified by the colonies in 1781, provided: The United States in Congress assembled shall also have the sole and exclusive right and power of regulating the alloy and value of coin struck by their own authority, or by that of the respective states—fixing the standards of weights and measures throughout the United States. Article 1, section 8, of the Constitution of the United States, ratified in 1789, granted these powers to the new Congr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk And Control Impact Assessment
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is “effect of uncertainty on objectives”. The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas ( business, economics, environment, finance, information technology, health, insurance, safety, security etc). This article provides links to more detailed articles on these areas. The international standard for risk management, ISO 31000, provides principles and generic guidelines on managing risks faced by organizations. Definition ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heatmap
A heat map (or heatmap) is a data visualization technique that shows magnitude of a phenomenon as color in two dimensions. The variation in color may be by hue or intensity, giving obvious visual cues to the reader about how the phenomenon is clustered or varies over space. There are two fundamentally different categories of heat maps: the cluster heat map and the spatial heat map. In a cluster heat map, magnitudes are laid out into a matrix of fixed cell size whose rows and columns are discrete phenomena and categories, and the sorting of rows and columns is intentional and somewhat arbitrary, with the goal of suggesting clusters or portraying them as discovered via statistical analysis. The size of the cell is arbitrary but large enough to be clearly visible. By contrast, the position of a magnitude in a spatial heat map is forced by the location of the magnitude in that space, and there is no notion of cells; the phenomenon is considered to vary continuously. "Heat map" is a re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auditor
An auditor is a person or a firm appointed by a company to execute an audit.Practical Auditing, Kul Narsingh Shrestha, 2012, Nabin Prakashan, Nepal To act as an auditor, a person should be certified by the regulatory authority of accounting and auditing or possess certain specified qualifications. Generally, to act as an external auditor of the company, a person should have a certificate of practice from the regulatory authority. Types of auditors * External auditor/ Statutory auditor is an independent firm engaged by the client subject to the audit, to express an opinion on whether the company's financial statements are free of material misstatements, whether due to fraud or error. For publicly traded companies, external auditors may also be required to express an opinion over the effectiveness of internal controls over financial reporting. External auditors may also be engaged to perform other agreed-upon procedures, related or unrelated to financial statements. Most important ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transit Board Control Self-assessment Form
Transit may refer to: Arts and entertainment Film * ''Transit'' (1979 film), a 1979 Israeli film * ''Transit'' (2005 film), a film produced by MTV and Staying-Alive about four people in countries in the world * ''Transit'' (2006 film), a 2006 film about Russian and American pilots in World War II * ''Transit'' (2012 film), an American thriller * ''Transit'' (2013 film), a Filipino independent film * ''Transit'' (2018 film), a German film Literature * ''Transit'' (Cooper novel), a 1964 science fiction by Edmund Cooper * ''Transit'' (Seghers novel), a 1944 novel by Anna Seghers * ''Transit'' (Aaronovitch novel), a 1992 novel by Ben Aaronovitch based on the TV series ''Doctor Who'' Music * Transit (band), an American emo band from Boston, Massachusetts * ''Transit'' (Ira Stein and Russel Walder album), an album by acoustic duo Ira Stein and Russel Walder, released 1986 * ''Transit'' (Sponge Cola album) * ''Transit'' (A. J. Croce album) * '' Transit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Authority
The Financial Services Authority (FSA) was a quasi-judicial body accountable for the financial regulation, regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investments Board (SIB) in 1985. Its board was appointed by the HM Treasury, Treasury, although it operated independently of government. It was structured as a company limited by guarantee and was funded entirely by fees charged to the financial services industry. Due to perceived regulatory failure of the banks during the financial crisis of 2007–2008, the Cameron–Clegg coalition, UK government decided to restructure financial regulation and abolish the FSA. On 19 December 2012, the ''Financial Services Act 2012'' received royal assent, abolishing the FSA with effect from 1 April 2013. Its responsibilities were then split between two new agencies: the Financial Conduct Authority and the Prudential Regulation Authority (United Kingdom), Prudent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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