What is the relationship between technology controls and effective enterprise risk management?
• The Enterprise Risk Management – Integrated Framework requires feedback of information from throughout the company. This information must be current and accurate and must be robust enough to support the analysis of different risk responses. Therefore the technology that provides this data must have the highest levels of integrity and controls. Enterprise risk management cannot be effective if the technology that provides the data used to manage risk is flawed. Controls related to technology, also referred to as general computer controls, were also discussed in the Internal Control – Integrated Framework; September 2004. If you have good internal control, isn’t that a way of managing risk? • A strong system of internal control supports the achievement of the organization’s business objectives and therefore good internal control is a way of managing risk. However, enterprise risk management is much broader than internal control. In addition to supporting management’s efforts to achieve
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