Chapter 5 Flashcards
SET OF CONNECTED ACTIVITIES LINKED WITH EACH OTHER FOR THE PURPOSE OF ACHIEVING ONE OR MORE BUSINESS OBJECTIVES
BUSINESS PROCESS
THE CORE PROCESSES THROUGH WHICH THE ORGANIZATION ACHIEVES ITS PRIMARY OBJECTIVES
OPERATING PROCESS
USED WHEN ACTIVITIES HAPPEN OVER AN EXTENDED PERIOD OF TIME, REQUIRE A COMPLEX SEQUENCING, AND ARE RELATIVELY UNIQUE IN THAT A SPECIFIC ACTIVITY IS NOT DONE CONTINUOUSLY
PROJECT
WHAT ARE 6 MGMT AND SUPPORT PROCESSES COMMON TO MOST ORGS
- HR
- FINANCIAL RESOURCES
- INFO AND TECH RESOURCES
- PHYSICAL RESOURCES
- COMPLIANCE
6, EXTERNAL RELATIONSHIPS
INCLUDES THE OBJECTIVES OF THE ORG AND HOW ITS BUSINESS PROCESSES ARE STRUCTURED TO ACHIEVE THESE OBJECTIVES
BUSINESS MODEL
WHAT IS INCLUDED IN THE BUSINESS MODEL
HIGH LEVEL STRATEGIES
TACTICAL DIRECTION
ANNUAL GOALS
MEASURES
BEGINS AT THE ENTITY LEVEL WITHIN THE ORG’S OBJECTIVES AND THEN IDENTIFIES THE KEY PROCESSES CRITICAL TO THE SUCCESS OF EACH OF THE ORG’S OBJECTIVES
TOP-DOWN APPROACH
BEGINS BY LOOKING AT THE PROCESS DIRECTLY AT THE ACTIVITY LEVEL AND THEN AGGREGATES THE IDENTIFIED PROCESSES ACROSS THE ORG
BOTTOM-UP APPROACH
TWO METHODS OF DOCUMENTING BUSINESS PROCESS
PROCESS MAP
PROCESS NARRATIVE
WHO IS INVOLVED IN THE BRAINSTORMING PROCESS
SENIOR MGMT AND MEMBERS OF THE IA FUNCTION
WHAT ARE TWO FACTORS COMMONLY USED WHEN ASSESSING RSK
IMPACT
LIKELIHOOD
WHAT ARE RISKS LINKED TO
SPECIFIC OBJECTIVES
LINK FOR A PROCESS THAT PLAYS A DIRECT ROLEIN MANAGING RISK
KEY LINK
LINK FOR PROCESS THAT HELPS TO MANAGE ROSK INDIRECTLY
SECONDARY LINK
WHAT TYPES OF FACTORS USUALLY USED IN THE RISK FACTOR APPROACH
INTERNAL FACTORS EXTERNAL FACTORS TIME SINCE LAST AUDIT PRIOR AUDIT RESULTS SPECIFIC MGMT CONCERNS
