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Definition
| Programmed checks or other controls pertinent to end-user applications |
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Term
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Definition
| To establish with little doubt about the state of something, such as financial results of a company, valuation of a business, or continued availability of an information system |
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Definition
| A commercial enterprise that adds value by providing either products or services to its customers |
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| Business environment risk |
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Definition
| Risk that emerges from the very nature of the industry and its environment to which the firm belongs |
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Definition
| A representative style, plan, or design to pattern business as a system |
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| The intended (successful product lines) or unintended (air pollution) results of people and processes. They are the end result of how well the management has managed all three sources of risks: the environment, strategy, and processes |
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Definition
| The likelihood that intended outcomes are not achieved or controlled |
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| A series of related activities or tasks that collectively add value |
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Definition
| An internal risk of mismanagement of a critical process |
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Definition
| The risk of failing to meet expectations arises from three sources: the business environment, the business strategy, and the business system. The higher-level risks are the first two, which we combine under one title, business risk. |
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Definition
| One particular means adopted to sustain and grow as a value-adding organization. A strategy is a selected path to achieving the organization's goals. |
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| Risk that emanates from ineffective or poorly executed strategy. |
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| Those risks that can be largely controlled by management |
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| A system designed to ensure that behaviors and decisions of people are consistent with the entity's objectives. A coordinated set of related control measures comprise a control system. |
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Term
| Enterprise risk management |
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Definition
| Enterprise risk management is a process applied in strategic setting and across the enterprise designed to (1) identify potential events that may affect the entity, and manage risk to be within its risk appetite, and (2) provide reasonable assurance regarding the achievement of entity objectives |
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Definition
| A system that collects, stores, updates, and displays data. It provides structure to data to create information. |
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Definition
| Information technology comprises of all forms of technology to create, store, exchange, and use information in its various forms. |
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| Management control system |
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Definition
| A control system that establishes a certain culture and a set of norms within the organization |
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Definition
| The avenue for management to plan, coordinate, direct, and control the firm's activities |
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Definition
| Risk is teh reduction in likelihood that the firm achieves one or more of its objectives |
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Definition
| A totality of compnonents and relationships among them, capable of producing output that is larger in value than the inputs it processes. |
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Definition
| A set of related measures to ensure that the business's information systems are reliable and that their behavior can be predicted |
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