Search results
Results from the WOW.Com Content Network
Control is a function of management that helps to check errors and take corrective actions. This is done to minimize deviation from standards and ensure that the stated goals of the organization are achieved in a desired manner.
Management control as an interdisciplinary subject. A management control system (MCS) is a system which gathers and uses information to evaluate the performance of different organizational resources like human, physical, financial and also the organization as a whole in light of the organizational strategies pursued.
Control Activities-the policies and procedures that help ensure management directives are carried out. Monitoring-processes used to assess the quality of internal control performance over time. The COSO definition relates to the aggregate control system of the organization, which is composed of many individual control procedures.
Strategic control is the process used by organizations to control the formation and execution of strategic plans; it is a specialised form of management control, and differs from other forms of management control (in particular from operational control) in respects of its need to handle uncertainty and ambiguity at various points in the control process.
Although interpreted differently in various organizations, GRC typically encompasses activities such as corporate governance, enterprise risk management (ERM) and corporate compliance with applicable laws and regulations. Organizations reach a size where coordinated control over GRC activities is required to operate effectively.
Control activities are the policies and procedures that help ensure that management directives are carried out. They help to ensure that the necessary measures are taken to address the risks that may hinder the achievement of the entity's objectives. Control activities occur throughout the organization, at all levels and in all functions.
Information technology controls (or IT controls) are specific activities performed by persons or systems to ensure that computer systems operate in a way that minimises risk. They are a subset of an organisation's internal control. IT control objectives typically relate to assuring the confidentiality, integrity, and availability of data and ...
Control Activities; Information and Communication; Monitoring; The four objectives categories - additional components highlighted - are: Strategy - high-level goals, aligned with and supporting the organization's mission; Operations - effective and efficient use of resources; Financial Reporting - reliability of operational and financial reporting