B1-M1 Flashcards
1
Q
Framework objectives
A
(ORC)
Operating objectives- effectiveness&efficiency
Reporting objectives- reliability,timeliness& transparancy
Compliance objectives- following laws& regulations
2
Q
Internal control comonents
A
(CRIME) Control environment Risk assessment Information and communication Monitoring activities Existing controls activities
3
Q
Control Environment
A
(EBOCA) Commitment to ethics and integrity Board independence and oversight Organizational structure Commitment to competence Accountability
4
Q
Risk Assessment
A
(SAFR)
Specify Objectives
Identify and analyze risks
consider potential
5
Q
Information and communication
A
(OIE)
Obtain and use information
Internally communicate information
Communicate with external parties
6
Q
Monitoring
A
(SOD)
7
Q
Existing controls activities
A
(CATP3)
8
Q
Change control
A
manner in which management monitors and authorizes changes to IT matters
