Oracle Business Flow: Assess Risk to Establish Internal Controls Accelerator

Risk Identification
CG0861
CG0861 CG0862
CG0862 CG0863
CG0863 CG0864
CG0864 CG0865
CG0865
Identify
Identify Identify
Identify Manage
Manage Estimate
Estimate Determine
Determine
Entity’s
Entity’s Risky
Risky Risk
Risk Likelihood
Likelihood Impact
Impact of
of
Risk
Risk Processes
Processes Library
Library of
of Risk
Risk Risk
Risk
• To assess risk, entity’s specific • Identify entity’s specific processes • Create a library of all • Estimate the probability of • Determine whether risk is
assets or processes should be that pose risk. A process may be the recurring risks that the occurrence of risk by serious enough to adversely
prioritized prone to the following types of can be associated to taking factors such as affect the entity’s ability to
• Identify the financial, operational risk: each business process frequency and duration initiate, record and report
and disclosure risks that are • Omissions and mistakes within the entity into consideration accurate data
specific to the entity • Unauthorized actions
• Unauthenticated transactions
• Unintentional activities

Scripting, Internal Controls Manager

Internal Controls Identification

CG0866
CG0866 CG0868
CG0868
CG0867
CG0867
Determine
Determine Control
Control Map
Map
Analyze
Analyze
Deficiency/
Deficiency/ Controls
Controls
Internal
Internal
Material
Material to
to Risks
Risks
Controls
Controls
Weakness
Weakness
• Control Deficiency is a flaw in the • Analyze the internal controls of • Create a matrix that links
design, implementation or the entity that are currently in entity’s financial, operational
operation of a control place to mitigate financial, and disclosure risk to the
• Material weakness is a condition operational and disclosure risk internal controls currently in
in which control(s) does not reduce place
the level of risk

Internal Controls Manager, Scripting

Enterprise Roles

CFO CEO Audit Committee Member

Internal External Auditor

Auditor
Not included in Accelerator offering Copyright © 2005, Oracle Corporation. All rights reserved.

October 12, 2005 Release 11i.10 Slide 1