Posted by: Robert Davis
Compliance Management, Compliance Verification Systems, Continuous Monitoring, Control System, Decision Techniques, Exception Reporting Systems, Expert Systems, Inference Engine, Knowledge Acquisition, Knowledge Engineer, Knowledge-base, Management Information Systems
An entity’s MIS represents the aggregation of personnel, computer hardware and software, with associated policies and procedures, allowing data processing to generate utilizable information for decision-making. Pre-specified and routine decisions, which form the policies and procedures that are typically documented by an entity, are designed to provide time for managers to address non-routine activities and consider improvements to the currently deployed control processes through removal from the more mundane aspects of day-to-day operations. However, process monitoring is required to ensure: expected outcomes are achieved for assigned functional responsibilities and irregular activities are detected on a timely basis.
“View Part I of the Compliance through Automation: Continuous Monitoring series here“