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Definitions and Terminology
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Z Reasonable AssuranceThe concept that enterprise risk management, no matter how well designed and operated, cannot provide a guarantee regarding achievement of an entity’s objectives. This is because of Inherent Limitations in enterprise risk management. source: COSO, 2004 A level of comfort short of a guarantee but considered adequate given the costs of the control and the likely benefits achieved. source: ITAF, ISACA, 2008
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