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Definitions and Terminology
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Internal control
The policies, procedures, practices and organisational structures designed to provide reasonable assurance that business objectives will be achieved and undesired events will be prevented or detected and corrected
source: COBIT 4.0
A process, effected by an entity’s board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in three categories: effectiveness and efficiency of operations; reliability of financial reporting; and compliance with applicable laws and regulations.
source: Champlain, Auditing Information Systems:2003
A process, effected by an entity’s board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: • Effectiveness and efficiency of operations; • Reliability of financial reporting; • Compliance with applicable laws and regulations.
source: COSO, 2004
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