SAP® GRC For Dummies®

Glossary

access control:

Access control refers to what a person can do in a computer system or application once she has signed on. Role-based access control defines a person's access to transactions according to their job function.

accounting controls:

Procedures and documentation concerned with safeguarding of assets, the conduct and recording of financial transactions, and the reliability of financial records.

audit:

An independent examination of a company's books to ensure that the information recorded is correct and complete.

audit committee:

A committee, often including members of the board of directors, responsible for overseeing financial reporting and internal controls.

audit trail:

A record of a sequence of transactions that enables an auditor to see what took place.

automated controls:

Internal controls that are executed automatically by computer systems. Manual controls are executed by a person charged with that task and are typically performed on a subset of transactions. Automated controls can be executed on every relevant transaction, ensuring greater accuracy with less effort.

Basel II:

An international standard for banking that regulators can use when making regulations on how much capital banks must have to offset potential risk. The more risk a bank has, the more capital it should have in place to ensure that it stays solvent. The regulation was the second such standard issued by the Basel Committee on Banking Supervision, and hence the name Basel II.

board of directors:

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