Lecture 4 - Business Processes & Internal Controls

Question 1

Business Processes

Answer 1

Is a set of activities that help a company achieve one or more of its objectives

Question 2

Business Risk

Answer 2

Is the chance that an event/action/inaction will stop or hinder a company from achieving one or more of its objectives

Question 3

Internal Controls

Answer 3

Systems and Procedures put in place by management to minimise risk & to ensure business processes work as intended