Angelica Jayle L.

Arteta BSA 1- Block G

1. Governance Planning- documents the approach to how decisions will be made on the
project. It also defines roles and responsibilities, and the timeframe in which decisions
must be made.
https://projectresources.cdt.ca.gov/wp-
content/uploads/sites/50/2019/09/GovernancePlanTemplate.docx#:~:text=A
%20Governance%20Plan%20documents%20the,and%20appeal%20process%20is
%20used.
2. Corporate Raiding- it is the act or practice of an investor or a group of investors buying
a majority stake or a significant minority stake in a publicly-traded company such that it
can dismiss current managers and replace them with handpicked successors
.https://financial-dictionary.thefreedictionary.com/Corporate+Raiding
3. Fraud- consists of illegal, deceptive actions committed either by a company or an
individual who is an employee of the company.
https://corporatefinanceinstitute.com/resources/knowledge/finance/corporate-fraud/
4. Engagement- a governance strategy that links citizens more directly into the. decision-
making process of the State in order to enable them to influence the public.
http://www.asset-scienceinsociety.eu/pages/engaged-governance
5. Engagement processes-refers to the initial interactions between the social worker and
the client. A successful engagement process sets in place a strong foundation for the
work that the client and social worker will do together.5r
https://connect.springerpub.com/content/book/978-0-8261-3363-2/chapter/
6. Technical Competence-an area of knowledge or skill that is useful in a particular
industry's job responsibilities.
https://www.indeed.com/career-advice/career-development/technical-competence
7. Professional Independence- argues that the profession must maintain its
independence from the political branches of government in order to preserve clients'
willingness to communicate openly with their lawyers.
https://www.researchgate.net/publication/272594333_The_Meaning_of_Professional_In
dependence#
8. Objectivity- It implies that the governance decisions should be taken based on merit
and after rigorous analysis of evidence.
https://www.drishtiias.com/mains-practice-question/question-678#
9. Integrity- an individual's or organization's conscious decision to consistently act in
accordance with applicable rules and regulations, norms, culture, values, and ethical
standards governed by law and society's values
http://www.sintmaartengov.org/government/Civil-Servants-Corner/Integrity-in-
Government/Pages/default.aspx#
10. Core competences- are the resources and capabilities that comprise the strategic
advantages of a business.
https://www.investopedia.com/terms/c/core_competencies.asp#
11. Corrective problem- is realizing and defining a problem, containing the problem,
 determining its cause and taking appropriate action to prevent it happening again.
https://www.iso-9001-checklist.co.uk/10.2-corrective-action.htm#
12. Progressive problem- People who are progressive favor reform and believe that the
government should play a big role in improving society. This word is the opposite of
conservative, which means "favoring tradition; resistant to change."
https://www.vocabulary.com/dictionary/progressive
13. Opportunistic problem- is the practice of taking advantage of opportunities as and
when they arise. The person who does this is an opportunist. Opportunism involves
exploiting circumstances purely for self-interest.
https://marketbusinessnews.com/financial-glossary/opportunism-definition-meaning/
14. Business planning- a written document that describes a company's core business
activities, objectives, and plans for achieving those goals
https://www.investopedia.com/terms/b/business-plan.asp
15. Business process- it is a collection of linked tasks that find their end in the delivery of a
service or product to a client.
https://appian.com/bpm/business-process-definition.html
16. Reengineering- most commonly defined as the redesign of business processes—and
the associated systems and organizational structures—to achieve a dramatic
improvement in business performance.
https://www.encyclopedia.com/social-sciences-and-law/economics-business-and-
labor/businesses-and-occupations/reengineering
17. Management Fraud- can be defined as a deliberate fraud committed by. a firm or
company's management that injures investors and creditors.
https://link.springer.com/content/pdf/10.1057/9781137360014_23.pdf
18. Board Balance Scorecard- is a strategic management performance metric that assists
businesses in identifying and improving internal operations in order to improve their
external outcomes.
https://www.investopedia.com/terms/b/balancedscorecard.asp#
19. Audit Committee- is in charge of overseeing financial reporting and disclosure.
https://www.investopedia.com/terms/a/audit-committee.asp
20. Three Tier security checks- a modular client-server architecture that consists of a
presentation tier, an application tier and a data tier.
https://searchsoftwarequality.techtarget.com/definition/3-tier-application
21. Rules-based code of ethics- An approach to ethics management wherein the morality
of an action is judged based on rules.
https://edgelearningmedia.com/2018/05/03/rule-based-ethics/#
22. Policy on Accountability, Integrity and Vigilance- Consistent with Belle Corporation’s
commitment to professional ethics and traditional values, the Company expects its
directors, officers and employees to observe high standards of business and personal
ethics in the conduct of their duties and responsibilities at all times inside and outside the
Company. In support of a whistleblower program, everyone is expected to participate
and work towards creating an environment where concerns can be freely raised for
possible violations of our Code of Business Conduct and Ethics, policies and laws so
 they can be resolved sooner than later.
https://www.bellecorp.com/sites/default/files/governance/Accountability%2C%20Integrity
%20%26%20Vigilance%20%28Whistle-Blowing%29.pdf
23. Marketing research- is the process of determining the viability of a new service or
product through research conducted directly with potential customers
https://www.investopedia.com/terms/m/market-research.asp
24. Strategic management- is the process of establishing goals, procedures, and
objectives to increase a company's or organization's competitiveness.
https://www.investopedia.com/terms/s/strategic-management.asp
25. Project feasibility study- is a document that includes a detailed description of the
project, as well as a list of various feasibility areas.
https://study.com/academy/lesson/project-feasibility-study-definition-steps.html
26. Appraisal of accounting system- is the process of conducting a fair analysis in order
to evaluate an asset, a business, an organization, or a performance using specific
criteria.
https://www.tutorialspoint.com/what-is-appraisal-in-accounting#
27. Managerial accounting- is the practice of analyzing and communicating financial data
to managers, who use the information to make business decisions.
https://www.investopedia.com/terms/m/managerialaccounting.asp
28. Business Recovery- refers to a company's exposure to loss as a result of damage to its
ability to conduct day-to-day operations.
https://www.investopedia.com/terms/b/business-recovery-risk.asp
29. Dispute analysis and investigation- are aimed at helping lawyers and other parties to
a litigation resolve conflicts or disputes through arbitration, mediation or other venues.
https://www.pwc.com/ve/en/servicios/finanzas-corporativas-y-recuperaciones/analisis-
de-disputas-e-investigaciones.html
30. Forensic accounting- utilizes accounting, auditing, and investigative skills to conduct
an examination into the finances of an individual or business.
https://www.investopedia.com/terms/f/forensicaccounting.asp
31. Fraud audit- is a detailed examination of the financial records of a business, with the
intent of finding instances of fraud.
https://www.accountingtools.com/articles/fraud-audit#
32. Governance- encompasses the system by which an organization is controlled and
operates, and the mechanisms by which it, and its people, are held to account.
https://www.governanceinstitute.com.au/resources/what-is-governance/
33. Corporate governance- is the structure of rules, practices, and processes used to
direct and manage a company. ·
https://www.investopedia.com/terms/c/corporategovernance.asp
34. Code of ethics- is a set of official standards of conduct that the members of a group are
expected to uphold.
https://www.dictionary.com/e/pop-culture/code-of-ethics/#
35. Fraud business- the intent or the act of misrepresentation – scammers lying about
themselves or their actions and services – to cause a gain or loss.
 https://www.met.police.uk/advice/advice-and-information/fa/fraud/business-fraud/how-to-
prevent-business-fraud/#
36. Risk assessment- is the process of identifying what hazards currently exist or may
appear in the workplace.
https://www.unison.org.uk/get-help/knowledge/health-and-safety/risk-assessment/
37. Internal Control- are the mechanisms, rules, and procedures implemented by a
company to ensure the integrity of financial and accounting information, promote
accountability, and prevent fraud.
https://www.investopedia.com/terms/i/internalcontrols.asp
38. Internal Audit- evaluate a company’s internal controls, including its corporate
governance and accounting processes.
https://www.investopedia.com/terms/i/internalaudit.asp
39. Bribery- Corrupt solicitation, acceptance, or transfer of value in exchange for official
action.
https://www.law.cornell.edu/wex/bribery
40. Conflict of Interest- occurs when an entity or individual becomes unreliable because of
a clash between personal (or self-serving) interests and professional duties or
responsibilities.
https://www.investopedia.com/terms/c/conflict-of-interest.asp
41. Corporate Integrity- is defined as a state or condition in which the objectives of the
managers and the shareholders of a corporation are undivided and complete.
https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=1259947
42. Trust index- measures investors' trust in the stock market, banks, mutual funds and
large corporations.
http://www.financialtrustindex.org/faq.htm
43. Values-based code of ethics- addresses a company's core value system. It may
outline standards of responsible conduct as they relate to the larger public good and the
environment.
https://www.investopedia.com/terms/c/code-of-ethics.asp#
44. FInancial Accounting Information Governance- is the product of corporate accounting
and external reporting systems that measure and publicly disclose audited, quantitative
data concerning the financial position and performance of publicly held firms.
http://lib.cufe.edu.cn/upload_files/other/4_20140516025603_18.pdf
45. COSO Framework (Committee of Sponsoring Organizations of the Treadway
Commission)- is a system used to establish internal controls to be integrated into
business processes.
https://www.techtarget.com/searchcio/definition/COSO-Framework#
46. Components of COSO:
● Control environment
● Risk assessment and management
● Control activities
● Information and communications
● Monitoring
 https://www.techtarget.com/searchcio/definition/COSO-Framework#

47. SOX (Sarbanes-Oxley Act)- is a federal law that established sweeping auditing and
financial regulations for public companies.
https://www.techtarget.com/searchcio/definition/Sarbanes-Oxley-Act
48. Employee Fraud- is when an employee knowingly lies, deceives or steals from a
company with the intent to obtain benefits or compensation of some type.
https://www.definitiveinsurance.com/research-center-employee-fraud
49. Management Fraud- can be defined as a deliberate fraud committed by. a firm or
company's management that injures investors and creditors. through materially
misleading financial statements, or intentional or. egregious conduct whether by act or
omission that leads to a material. misstatement of financial statements.
https://link.springer.com/content/pdf/10.1057/9781137360014_23.pdf
50. Internal Auditing- is an independent, objective assurance and consulting activity
designed to add value and improve an organization's operations.
https://www.iia.org.au/about-iia-australia/WhatIsInternalAudit/DefinitionOfIA.aspx
51. Accounting Information System- is a structure that a business uses to collect, store,
manage, process, retrieve, and report its financial data
https://www.investopedia.com/articles/professionaleducation/11/accounting-information-
systems.asp
52. Financial Rehabilitation & Insolvency Act/FRIA- is a law which governs the
rehabilitation or liquidation of debtors, may it be a sole proprietorship, partnership,
corporation or an individual debtor.
https://ndvlaw.com/the-financial-rehabilitation-and-insolvency-act-of-2010/
53. 2013 rules of procedures- it is a document that shows the Employment Tribunal Rules
of Procedure contained in Schedule 1 of the Employment Tribunal
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment
_data/file/1032803/consolidated-rules-october-2021.pdf
54. Big “G” (macro) governance- is the abstraction, concept or larger purpose. It’s the
ideas, concepts and purposes which those institutions were created to serve, which, if
you’d like, you can think about also as an input (although that’s a not perfect
comparison).
http://www.theartofgovernance.com/2016/06/13/dissecting-little-g-versus-big-g-
government/
55. Corporate or little “g” governance- represents the physical institutions, point of
interaction or in a workflow perspective the “output” of government, including laws, rules,
employees, budgets, meetings and buildings.
http://www.theartofgovernance.com/2016/06/13/dissecting-little-g-versus-big-g-
government/
56. Risk management- is the process of identifying, assessing and controlling threats to an
organization's capital and earnings.
https://searchcompliance.techtarget.com/definition/risk-management
57. Management Succession-is a systematic approach to identifying, selecting, and
 developing key employees and talented new hires to assume critical roles and prepare
the organization for the future. This practice ensures that skilled and engaged people fill
key leadership roles.
https://www.aihr.com/blog/succession-management/
58. Corruption- is dishonest behavior by those in positions of power, such as managers or
government officials.
https://www.investopedia.com/terms/c/corruption.asp
59. Economic cycles- refers to the fluctuations of the economy between periods of
expansion (growth) and contraction (recession).
https://www.investopedia.com/terms/e/economic-cycle.asp#
60. ENRON scandal & Bankruptcy- was a series of events involving dubious accounting
practices that resulted in the bankruptcy of the energy, commodities, and services
company Enron Corporation and the dissolution of the accounting firm Arthur Andersen.
https://www.britannica.com/event/Enron-scandal#
61. Compliance- it’s defined as the process of making sure your company and employees
follow all laws, regulations, standards, and ethical practices that apply to your
organization and industry.
https://www.powerdms.com/policy-learning-center/what-corporate-compliance-is-and-
why-its-important#
62. Compliance Management System- the process of determining the adherence of
business processes and systems to relevant laws and regulations.
https://blog.clevercompliance.io/product-compliance/compliance-management-system-
elements-and-benefits/#
63. Rigid Compliance Approach- ensures that an organization’s policies and procedures
align with a specific set of rules.
https://reciprocity.com/resources/what-is-compliance-management/
64. Assurance Providers- are defined as independent professional services that improve
the quality or context of information for decision-makers.
https://www.investopedia.com/terms/a/assurance-services.asp#
65. Business Continuity Plan- is a document that outlines how a business will continue
operating during an unplanned disruption in service.
https://www.kyndryl.com/us/en/learn/plan#
66. Governance according to IFAC- the set of responsibilities and practices exercised by
the board and executive management (“the governing body”) with the goal of (a)
providing strategic direction, (b) ensuring that objectives are achieved, (c) ascertaining
that risks are managed appropriately, and (d) verifying that the organization’s resources
are used responsibly.2
https://www.imcp.org.mx/IMG/pdf/evaluating-and-improving-governance-in-
organizations.pdf
67. Corporate Governance according to the Phil. SEC- is the system of stewardship and
control to guide corporations in fulfilling their long-term economic, moral, legal and social
obligations towards their stakeholders16, including, but not limited to, customers,
employees, suppliers, shareholders, investors, creditors, the community the company
 operates in, society, the government, regulators, competitors, external auditors, etc.
https://www.sec.gov.ph/wp-content/uploads/2020/06/2020Notice_CGRM-Drafts.pdf
68. Corporate governance according to the International/European community
definition- According to ecoDa, good governance is based on a number of widely
accepted principles of good governance (ecoDa 2010):
● Delegation of Authority
● Checks and Balances
● Professional decision making try an effective team
● Accountability and Transparency
● Conflicts of Interest
● Aligning Incentives
https://www.ifc.org/wps/wcm/connect/506d49a2-3763-4fe4-a783-
5d58e37b8906/CG_Practices_in_EU_Guide.pdf?MOD=AJPERES&CVID=kNmxTtG
69. Corporate Governance defined under the Fraud Deterrence Cycle perspective- has
been defined as a set of mechanisms of incentives and monitoring in order to assure a
good management on behalf of the company and its shareholders and others
stakeholders.
https://www.intechopen.com/chapters/55244
70. Enterprise Risk Management (ERM)-is a methodology that looks at risk management
strategically from the perspective of the entire firm or organization.
https://www.investopedia.com/terms/e/enterprise-risk-management.asp
71. Recommended Competencies of Internal Auditors- Communication skills, including
oral communication, report writing, and presentation skills.
https://www.dvphilippines.com/blog/6-skills-you-need-in-starting-an-internal-audit-career
72. The 2015 G20 OECD Principles of CG-
● Ensuring the basis of an effective corporate governance framework
● The rights and equitable treatment of shareholders and key ownership functions
● Institutional investors, stock markets, and other intermediaries
● The role of stakeholders in corporate governance
● Disclosure and transparency
● The responsibilities of the board
https://www.complianceonline.com/dictionary/OECD_Principles_of_Corporate_Governan
ce.html
73. The Board of directors- is essentially a panel of people who are elected to represent
shareholders.
https://corporatefinanceinstitute.com/resources/careers/jobs/board-of-directors/
74. Risk committee- is an independent committee of the Board of Directors that has, as its
sole and exclusive function, responsibility for the oversight of the risk management
policies and practices of the Corporation's global operations and oversight of the
operation of the Corporation's global risk ..
https://www.bnymellon.com/us/en/investor-relations/corporate-governance/risk-
committee.html#
75. Rules-based code of ethics- An approach to ethics management wherein the morality
of an action is judged based on rules.
 https://edgelearningmedia.com/2018/05/03/rule-based-ethics
76. Values-based code of ethics- addresses a company's core value system. It may
outline standards of responsible conduct as they relate to the larger public good and the
environment.
https://www.investopedia.com/terms/c/code-of-ethics.asp
77. Regulatory Compliance/ statutory obligations- refers to laws passed by a state
and/or central government, while regulatory refers to a rule issued by a regulatory body
appointed by a state and/or central government
https://www.linkedin.com/pulse/statutory-regulatory-requirements-quality-management-
system-s
78. Internal Audit department- is a unit within a company or organization that is
responsible for evaluating operational procedures, risk management, control functions,
and governance processes.
https://www.investopedia.com/terms/a/audit-department.asp
79. Corporate Governance Charter- is to provide the Board of Directors of the
Company with guidance in the discharge of their duty to oversee the affairs of the
Company for the benefit of the shareholders.
http://amerigoresources.com/_resources/governance/Corporate%20Governance
%20Charter.pdf
80. Steward- a person who manages another's property or financial affairs; one who
administers anything as the agent of another or others.
https://www.dictionary.com/browse/steward
81. Risk- the chance that an outcome or investment's actual gains will differ from an
expected outcome or return.
https://www.investopedia.com/terms/r/risk.asp#
82. Board of directors- is an elected group of individuals that represent shareholders.
https://www.investopedia.com/terms/b/boardofdirectors.asp#
83. Non-audit work- used to describe services that an accountant provides for a company,
such as giving advice, that do not involve checking the company's financial records
https://dictionary.cambridge.org/us/dictionary/english/non-audit
84. Management- devising a short- or long-term strategy for acquiring and disposing of
portfolio holdings.
https://www.investopedia.com/terms/i/investment-management.asp#
85. Policies and Procedures- are a set of rules and methods designed and communicated
to structure certain processes within an organization.
https://www.myaccountingcourse.com/accounting-dictionary/policies-and-procedures
86. Internal Audit- evaluate a company's internal controls, including its corporate
governance and accounting processes.
https://www.investopedia.com/terms/i/internalaudit.asp
87. Internal Audit Department- is a unit within a company or organization that is
responsible for evaluating operational procedures, risk management, control functions,
and governance processes.
https://www.investopedia.com/terms/a/audit-department.asp
88. Business Ethics- is the study of appropriate business policies and practices regarding
potentially controversial subjects including corporate governance, insider trading,
bribery, discrimination, corporate social responsibility, and fiduciary responsibilities.
https://www.investopedia.com/terms/b/business-ethics.asp
89. Forensic- is the investigation of fraud or financial manipulation by performing extremely
detailed research and analysis of financial information.
https://corporatefinanceinstitute.com/resources/knowledge/accounting/forensic-
accounting-litigation/
90. Management Fraud- can be defined as a deliberate fraud committed by. a firm or
company's management that injures investors and creditors. through materially
misleading financial statements, or intentional or. egregious conduct whether by act or
omission that leads to a material. misstatement of financial statements.
https://link.springer.com/content/pdf/10.1057/9781137360014_23.pdf
91. Employee Fraud- is when an employee knowingly lies, deceives or steals from a
company with the intent to obtain benefits or compensation of some type.
https://www.definitiveinsurance.com/research-center-employee-fraud
92. Economic extortion- is the wrongful use of actual or threatened force, intimidation, or
even violence to gain money or property.
https://www.investopedia.com/terms/e/extortion.asp#
93. Bribery- occurs when one entity illegally offers money or something else of value to
sway or influence some decision or process.
https://www.investopedia.com/terms/b/bribe.asp#
94. Board Balance Scorecard- is a performance metric companies use to identify and
improve various internal functions and their resulting external outcomes.
https://balancedscorecard.org/bsc-basics-overview/
95. Individual Integrity- those characteristics of an individual that are consistently
considerate, compassionate, transparent, honest, and ethical.
https://www.aabri.com/manuscripts/10504.pdf
96. Oversight- refers to the actions taken to review and monitor public sector organizations
and their policies, plans, programs, and projects.
https://www.caaf-fcar.ca/en/oversight-concepts-and-context/what-is-oversight-and-how-
does-it-relate-to-governance
97. Documentation- the act or an instance of furnishing or authenticating with documents
https://www.merriam-webster.com/dictionary/documentation
98. Fraud audit- is a detailed examination of the financial records of a business, with the
intent of finding instances of fraud.
https://www.accountingtools.com/articles/fraud-audit#
99. Separation of chair and CEO- chairman is responsible for marshaling the effective
functioning of the board including the collective oversight of management. The CEO
meanwhile spearheads the business and day-to-day management of the company.
https://bursa-malaysia.s3.amazonaws.com/reports/Pullout-I-7-Practice-1-3.pdf
100. Fiduciary Duty of Care- requiring directors and/or officers of a corporation to
make decisions that pursue the corporation's interests with reasonable diligence and
 prudence.
https://www.law.cornell.edu/wex/duty_of_care#
101. High Quality Earnings-In accounting, high-quality earnings refer to a company
enabling an increase in its reported income as a result of increased sales, or because of
reductions in cost, or an effective marketing campaign. A surge in reported income
without any accounting artifice that does not present a true picture of a company’s
prospects, such as using aggressive accounting practices or creative accounting
practice, is called reporting high-quality earnings.
https://thefinanalyst.com/what-are-high-quality-earnings/

102. International Federation of Accountants- The International Federation of

Accountants (IFAC) is the global advocacy organization for the accountancy profession;
mainly for the financial accounting and auditing professions.
https://en.wikipedia.org/wiki/International_Federation_of_Accountants

103. Organization for Economic Co-operation- The Organization for Economic Co-
operation and Development (OECD) is a unique forum where the governments of 37
democracies with market-based economies collaborate to develop policy standards to
promote sustainable economic growth.
https://www.state.gov/the-organization-for-economic-co-operation-and-development-
oecd/

104. Low Integrity- A person lacks integrity if unable to appreciate the distinction
between what is honest or dishonest by ordinary standards.
https://www.lexology.com/library/detail.aspx?g=681e0adb-5dc2-4a6e-8d3d-
64b89de3f368#:~:text=A%20person%20lacks%20integrity%20if,or%20dishonest%20by
%20ordinary%20standards.
105. Forensic CPAs-A forensic certified public account (CPA) is an accountant with
specialized accounting, investigative and audit skills who is retained in a divorce matter
to analyze information and then present expert testimony regarding that information in
court, if necessary.
https://www.buckheadfamilylaw.com/what-is-a-forensic-cpa-and-how-can-they-help-with-
my-divorce/
106. Corporate and Criminal Fraud Accountability- Sections 801 to 807 of the
Sarbanes Oxley Act of 2002 are known collectively as the Corporate and Criminal Fraud
Accountability Act. The Act details criminal penalties for securities fraud and protects
employees-turned-whistleblower of publicly traded companies from retaliatory actions by
their employers.
https://www.complianceonline.com/corporate-and-criminal-fraud-accountability-act-
overview-and-summary-of-requirements
107. Forensic Accountants-Forensic accountants often review accounting systems
and practices related to criminal and legal investigations. The field is a branch of general
accounting. It takes a holistic view of financial statements and traces the movement of
money in order to understand a particular situation.
 https://www.accounting.com/careers/forensic-accountant/
108. Corporate Raiding-In business, a corporate raid is the process of buying a large
stake in a corporation and then using shareholder voting rights to require the company to
undertake novel measures designed to increase the share value, generally in opposition
to the desires and practices of the corporation's current management.
https://en.wikipedia.org/wiki/Corporate_raid
109. Fraud Business- Consists of dishonest and illegal activities perpetrated by
individuals or companies in order to provide an advantageous financial outcome to those
persons or establishments. Also known as corporate fraud, these schemes often appear
under the guise of legitimate business practices.
https://www.fbi.gov/scams-and-safety/common-scams-and-crimes/business-fraud
110. Fraud Triangle- Is a framework used to explain the reason behind an individual’s
decision to commit fraud. The fraud triangle consists of three components: (1)
Opportunity, (2) Incentive, and (3) Rationalization. Fraud refers to the deception that is
intentional and caused by an employee or organization for personal gain.
corporatefinanceinstitute.com/resources/knowledge/accounting/fraud-triangle/
111. Business Continuity Plan- What Is Business Continuity Planning (BCP)?
Business continuity planning (BCP) is the process involved in creating a system of
prevention and recovery from potential threats to a company. The plan ensures that
personnel and assets are protected and are able to function quickly in the event of a
disaster.
www.investopedia.com/terms/b/business-continuity-planning.asp
112. Three-tier security check-What is a Tier 3 security clearance? T3 is the
investigation required for positions designated as non-critical sensitive and/or requiring
eligibility for “L” access or access to Confidential or Secret information. T3R is the
reinvestigation product required for the same positions.
janetpanic.com/what-is-a-tier-3-security-clearance/
113. Corporate Integrity-Corporate integrity is defined as a state or condition in
which the objectives of the managers and the shareholders of a corporation are
undivided and complete. The compensation of the managers and the shareholders is
selected as a subset of the objectives.
papers.ssrn.com/sol3/papers.cfm?abstract_id=1259947
114. High Integrity- Having a high degree of integrity at work means that: You are
trustworthy and reliable.
https://philosophy-question.com/library/lecture/read/317562-what-is-high-level-of-
integrity
115. Corporate Development Officer- The Corporate Development Officer/ Account
Manager is responsible for the development and management of a portfolio of current
and new corporate philanthropy funders and key corporate engagement accounts, as
well as supporting programmatic initiatives and their fundraising and engagement
strategies.
www.devex.com/jobs/corporate-development-officer-975768
116. Corporate Information Officer- A CIO is a high-ranking executive responsible
for managing and successfully implementing the information and computer technology
 systems of a company. As technology becomes more sophisticated and expands
globally, the role of a CIO has increased in popularity and importance.
www.investopedia.com/terms/c/cio.asp
117. Chief Risk Officer- The executive of an organization who is accountable for
enabling the efficient and effective governance of significant risks, and related
opportunities
https://en.wikipedia.org/wiki/Chief_risk_officer
118. Functions/Responsibilities of the CRO- The CRO is in charge of operations,
sales, corporate development, marketing, pricing, and revenue management. Their main
aim is to sell each product to generate the most revenue possible to the most relevant
audience. They must maximize the effectiveness of marketing and advertising
investments.
https://northwest.education/insights/executive-leadership/cro-chief-revenue-officer-roles-
responsibilities/#:~:text=The%20CRO%20is%20in%20charge,of%20marketing%20and
%20advertising%20investments.
119. Functions/Responsibilities of the CDO- a chief data officer is responsible for
developing and governing the data and information strategy in order to drive business
decisions and growth.
Chief Data Officer Responsibilities:
● Thorough understanding of the business and data strategy.
● Designing and implementing data strategies and systems.
● Lead, motivate, and manage large technical teams.
● Overseeing the collection, storage, management, quality, and protection of data.
● Implementing data privacy policies and complying with data protection
regulations.
● Determine where to cut costs and increase revenue based on insights derived
from data.
● Effectively communicate the status, value, and importance of data collection to
executive members and staff.
● Knowledge of relevant applications, big data solutions, and tools
https://www.betterteam.com/chief-data-officer-job-description
120. Functions/Responsibilities of the CFO- A chief financial officer (CFO) is the
highest-ranking financial professional in an organization and is responsible for the fiscal
health of the business. The CFO’s responsibilities include, but aren’t limited to, building a
top-notch finance and accounting team, ensuring revenues and expenses stay in
balance, overseeing FP&A (financial planning & analysis) functions, making
recommendations on mergers and acquisitions, obtaining funding, working with
department heads to analyze financial data and craft budgets, attesting to the accuracy
of reports and consulting with boards of directors and the CEO on strategy.
https://www.netsuite.com/portal/resource/articles/accounting/chief-financial-officer-
cfo.shtml#:~:text=The%20CFO's%20responsibilities%20include%2C%20but,working
%20with%20department%20heads%20to
121. Chief Internal Auditor- The chief internal auditor is employed by an organization
to analyze its operations and finances, ensuring there are no discrepancies, identifying
 issues that exist, and addressing those problems. They often work with accounting
departments and other financial officers.
www.payscale.com/research/US/Job=Chief_Internal_Auditor/Salary
122. Functions/Responsibilities of the CIA- The Central Intelligence Agency is the
intelligence arm of national security. They acquire, analyze, and share information about
things that might impact national security with US government policymakers. This helps
policymakers make informed decisions about international affairs.
The CIA can:
● Carry out covert actions on behalf of the president
● Analyze information about foreign affairs
● Support foreign groups in resources, training, and technology to promote US
interests overseas
https://learn.rumie.org/jR/bytes/describe-the-role-of-the-cia-in-usa-national-security
123. Chief Compliance Officer- A Chief Compliance Officer (CCO) is the person in
charge of overseeing and maintaining compliance within an organization. They usually
report to the Chief Executive Officer and work with outside regulatory bodies to keep a
company up to date on compliance.
https://learn.g2.com/chief-compliance-officer
124. Functions/Responsibilities of the CCO- Chief compliance officers (CCOs) are
responsible for designing, implementing and monitoring the processes by which the
company will comply with all applicable laws and regulations. This frees general counsel
(GC) to take a more strategic legal and risk-tolerance approach.
https://www.gartner.com/en/legal-compliance/role/new-to-role-chief-compliance-
officers#:~:text=Chief%20compliance%20officers%20(CCOs)%20are,legal%20and
%20risk%2Dtolerance%20approach.
125. Chief Governance Officer- The chief governance officer (CGO) is normally a
senior vice executive reporting to the CEO; however, in the not-for-profit sector, when an
organization uses policy governance, the chair of the board often takes on the role of
CGO, who is tasked with directing the people, business processes and systems needed
to enable good governance from inside the corporation in support of the board of
directors.
en.wikipedia.org/wiki/Chief_governance_officer
126. Responsibilities of the CGO- A chief growth officer CGO is responsible for
managing a company's growth, whether measured in terms of revenue or perhaps
audience growth. A CGO's role is to collaborate, measure, and provide support for
growth initiatives, to reshape the organisation they work in, in order to stay ahead of
buyer needs.
https://www.martechalliance.com/stories/what-is-a-cgo#:~:text=A%20chief%20growth
%20officer%20CGO,stay%20ahead%20of%20buyer%20needs.
127. The Bernie Madoff Case- The Madoff investment scandal was a major case of
stock and securities fraud discovered in late 2008.
https://en.wikipedia.org/wiki/Madoff_investment_scandal
128. Ponzi Scheme- A Ponzi scheme is a form of fraud in which investors are
attracted to an opportunity by someone they believe to be a highly regarded investing
 professional. In most of these schemes, the Ponzi schemer not only suggests the
possibility of high returns but promises or “guarantees” them.
https://www.moneycrashers.com/bernie-madoff-ponzi-scheme-explained/
129. WorldCom Accounting Scandal- was a major accounting scandal that came to
light in the summer of 2002 at WorldCom, the USA's second largest long-distance
telephone company at the time. From 1999 to 2002, senior executives at WorldCom led
by founder and CEO Bernard Ebbers orchestrated a scheme to inflate earnings in order
to maintain WorldCom's stock price.
en.wikipedia.org/wiki/WorldCom_scandal
130. Three Key Elements of Integrity- Incorruptibility, Completeness,
Communication
https://www.yeoandyeo.com/resource/why-the-three-key-elements-of-integrity-are-
critical-for-your-accountant
131. Ethical Obligations- An ethical obligation is a standard that defines a moral
course of action. Many professions are subject to comprehensive sets of ethical
obligations which, if violated, may lead to sanctions.
resources.infosecinstitute.com/topic/cybersecurity-ethical-obligation/
132. Code of Ethics in Auditing- According to the Audit Code of Ethics, a member of
an auditing firm or organization should avoid activities that might impair his or her
independence and impartial assessment. Such activities include accepting things that
might conflict with the interests of the organization, taking part in illegal or unethical
activities, or engaging in improper relationships with clients. Additionally, they should not
withhold material facts that might impair their judgment in performing their audit.
https://www.b2bsustainable.com/what-is-the-audit-code-of-ethics/
133. Audit Committee Responsibilities- The primary purpose of a company's
audit committee is to provide oversight of the financial reporting process, the
audit process, the company's system of internal controls and compliance with
laws and regulations.
https://www.cfainstitute.org/en/advocacy/issues/audit-committee-role-
practices#:~:text=Overview,compliance%20with%20laws%20and%20regulations.
134. Purpose/Intent of Internal Control- Protect assets from accidental loss or
from fraud - Ensure the reliability of financial information - Ensure compliance with
federal, state and local laws affecting the operations of the practice - Promote efficient
and effective operations
https://www.skrco.com/6-internal-controls-your-medical-or-dental-practice-needs-today/
135. Integrity, Accountability and Fraud (Internal Control Mechanisms in
CG)- refers to all the policies and procedures adopted by the management of an
entity to assist in achieving management objectives as much as practicable, the
orderly and efficient conduct of its businesses including adherence to its own
rules and regulations and policies.
https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID2512977_code1720069.pdf?
abstractid=2512977
136. Duties of an Internal Auditor- Discussing the developments of the internal
 audit profession and control entities. Providing a platform for exchanging experiences
and best practices in the internal audit profession. Highlighting the future of the internal
audit profession based on changes and developments in the field.
https://www.linkedin.com/pulse/biggest-internal-audit-event-kingdom-saudi-arabia-
consultingat
137. Determinants of Effective Internal Audit System- management support,
management’s perception of internal audit values, organizational independence of
internal auditors, placement of adequate and competent internal audit staff, and the
presence of approved internal audit charter
https://www.abacademies.org/articles/Determinants-of-internal-auditing-effectiveness-in-
a-public-higher-education-institution-1528-2635-25-2-694.pdf
138. Objective Areas of COSO (Operations, Reporting & Compliance)-
● Operations – Are the controls that your organization has put into place
been properly designed and are they operating effectively? Your clients
are relying on those controls as you deliver your services to them. Are
your organization’s operation procedures efficient? Are your operational
and financial performance goals realistic? Do you safeguard assets
against risk and loss? The operations objective is meant to focus on the
effectiveness and efficiency of operations.
● Reporting – Are your reports reliable, timely, and transparent? What
reports do your clients rely upon? Meeting the reporting objective is vital
to meeting your clients’ goals and your obligations to them.
● Compliance – Which laws and regulations apply to you? The compliance
objective ensures that you remain in compliance with the standards and
regulations that your clients care about.
https://kirkpatrickprice.com/video/understanding-soc-1-report-3-objectives-coso/
139. SOX Compliance and Security Controls- a mandated yearly assessment of
how well your company is managing its internal controls and the results are made
available to shareholders. The primary purpose of a SOX compliance audit is to verify
the company's financial statements, however, cybersecurity is increasingly important.
https://www.upguard.com/blog/sox-compliance
140. Fraud Audit- A fraud audit is actually a consulting service, rather than a type of
audit, since the outcome does not involve giving an opinion on a client's financial
statements.
www.accountingtools.com/articles/fraud-audit
141. Fraud Investigation- A fraud investigation is conducted with the intention to
protect and offer justice to the victim of a fraudulent offence, and in turn to punish the
fraudster responsible for the offence.
www.delta-net.com/compliance/fraud-awareness/faqs/what-is-fraud-investigation
142. Standing Plans- Are ongoing plans that provide guidance for activities
performed repeatedly. Standing plans include policies, rules and procedures.
https://www.answers.com/Q/What_are_standing_plans
143. Single-Use Plans- These plans are made for handling non-recurring problems.
Single-use plans are also known as ‘specific plans’ since their objective is to solve a
 particular problem. These plans are formulated to handle a non-repetitive and unique
problem. Such single-use plans cannot be used repeatedly since they become useless
after they have achieved their objective. Some examples are budgets, programmes,
project reports, etc.
https://www.toppr.com/guides/fundamentals-of-economics-and-
management/planning/types-of-plans-single-use-and-standing-plans/
144. Strategic Planning- Strategic planning is an organization's process of defining
its strategy, or direction, and making decisions on allocating its resources to pursue this
strategy. It may also extend to control mechanisms for guiding the implementation of the
strategy.
https://en.wikipedia.org/wiki/Strategic_planning
145. Strat Planning Process- Strategic planning in management is the process of
documenting and establishing a direction of your small business—by assessing both
where you are and where you’re going.
https://sba.thehartford.com/business-management/what-is-strategic-planning/
146. Phases of BCP-
● Phase 1: Initiation.
● Phase 2: Business Impact Analysis (BIA)
● Phase 3: Develop Recovery Strategies
● Phase 4: Implementation
● Phase 5: Test and Monitor
https://bks-partners.com/articles/5-phases-of-a-business-continuity-plan/
147. Direct Responsibilities of Management- Management is responsible for
establishing internal controls. In order to maintain effective internal controls,
management should:
● Maintain adequate policies and procedures;
● Communicate these policies and procedures; and
● Monitor compliance with policies and practices.
https://www.nicholls.edu/internal-audit-department/audit-process/managements-
responsibility-internal-controls/
148. Indirect Responsibilities of Management- Their immediate duties incorporate
overseeing both the tasks procedure, grasping structure, arranging, control, execution
improvement, and activities methodology. Their roundabout obligations incorporate
communicating with those administrators in other useful regions inside the association
whose jobs affect tasks. Such territories incorporate advertising, fund, bookkeeping, staff
and building.
https://techleens.com/mba/scm/what-is-indirect-responsibilities-of-operations-
management.php
149. Three Vital Internal Compliance Instruments- There are three vital internal
compliance instruments that achieve this: a Code of Conduct, standards and policies
and specified compliance procedures.
https://www.priorilegal.com/resources/additional-resources/additional-legal-
topics/corporate-compliance#:~:text=There%20are%20three%20vital
%20internal,policies%20and%20specified%20compliance%20procedures.
150. Planning, Organizing, Staffing, Leading & Control- Management is
considered a continuing activity made up of basic management functions which are
Planning , Organising, Staffing, Directing and Controlling. The managers have to perform
all these functions in order to achieve the desired organizational goals.
https://cbseacademic.nic.in/web_material/Curriculum21/publication/srsec/UNIT3_BA_XII
.pdf
151. People, Performance, Process & Process (4Ps of CG)- They are the founders,
the board, the stakeholder and consumer and impartial observer. People are the
organisers who determine a purpose to work towards, develop a consistent process to
achieve it, evaluate their performance outcomes, and use those outcomes to grow
themselves and others as people.
https://processpa.com/ExecutiveMatters/the-four-ps-of-corporate-
governance#:~:text=They%20are%20the%20founders%2C%20the,themselves%20and
%20others%20as%20people.
152. Five Functions of Governance- Act according to high ethical standards.
Identify, understand and manage conflicts of interest and loyalty. Maintain independence
of decision making. Ensure open communication by informing and consulting people
about the organisation and its work.
https://www.diycommitteeguide.org/code/principle/being-open-and-accountable
153. Dilemmas in Accounting Profession- Common ethical dilemmas should be
considered and guarded against before problems arise. For example, ethical dilemmas
for CPAs may include work involving two-party transactions, conflicts of interest, pro-
bono work, and confidentiality agreements.
https://mcgowanprograms.com/blog/how-to-deal-with-ethical-dilemmas-as-an-
accountant%EF%BB%BF/
154. External Audit- External Audit is defined as the audit of the financial records of
the company in which independent auditors perform the task of examining validity of
financial records of the company carefully in order to find out if there is any misstatement
in the records due to fraud, error or embezzlement and then reporting the same to the
stakeholders of the company.
https://www.wallstreetmojo.com/external-audit/
155. Operational Audit- An operational audit refers to a method of examining how an
organization conducts business. It requires analyzing the processes, procedures and
systems used within the company. This type of audit looks beyond the organization's
financial circumstances and examines its management practices.
www.indeed.com/career-advice/career-development/operational-auditing
156. Financial Audit- is the examination of the financial records of an entity by a
certified third party examiner. This examination by a knowledgeable outsider is needed
to provide credibility to an organization's financial statements. If an auditor does not find
any issues, then he or she releases an audit opinion, which accompanies the certified
financial statements when they are issued. Lenders, creditors, and investors want to see
an audit opinion, as proof that the financial statements are correct.
https://www.accountingtools.com/articles/financial-audit
157. Compliance Audit- is a review of an organization’s compliance status with
 respect to the applicable regulatory guidelines and to evaluate the effectiveness of the
organization’s internal controls on compliance.
https://www.ganintegrity.com/compliance-glossary/compliance-audit/
158. Management Audit- A management audit is an analysis and assessment of the
competencies and capabilities of a company's management in carrying out corporate
objectives. The purpose of a management audit is not to appraise individual executive
performance but to evaluate the management team in its effectiveness to work in the
interests of shareholders, maintain good relations with employees, and uphold
reputational standards. It is important to stress that the management audit assesses the
overall management of the company, not the performance of individual managers.
https://www.investopedia.com/terms/m/management-audit.asp
159. Investigative Audit- Investigative auditing refers to verification and clarification
of transactions in accounting departments and organizations in general.
work.chron.com/investigative-auditor-sample-job-descriptions-28423.html
160. IT Audit- is the examination and evaluation of an organization's information
technology infrastructure, policies and operations. Information technology audits
determine whether IT controls protect corporate assets, ensure data integrity and are
aligned with the business's overall goals.
searchcompliance.techtarget.com/definition/IT-audit-information-technology-audit
161. KPIs (Key Performance Indicators)- are the critical (key) indicators of progress
toward an intended result. KPIs provide a focus for strategic and operational
improvement, create an analytical basis for decision making and help focus attention on
what matters most.
https://kpi.org/KPI-Basics
162. KRAs (Key Result Areas)- broadly define the job profile for the employee and
enable them to have better clarity of their role. KRAs should be well-defined,
quantifiable, and easy to measure. It also helps employees to align their role with that of
the organization.
https://economictimes.indiatimes.com/definition/key-result-areas
163. Mark-To-Market Accounting Method- Mark to market (MTM) is a method of
measuring the fair value of accounts that can fluctuate over time, such as assets and
liabilities. Mark to market aims to provide a realistic appraisal of an institution's or
company's current financial situation based on current market conditions.
https://www.investopedia.com/terms/m/marktomarket.asp
164. Corporate Raiding- In business, a corporate raid is the process of buying a
large stake in a corporation and then using shareholder voting rights to require the
company to undertake novel measures designed to increase the share value, generally
in opposition to the desires and practices of the corporation's current management.
en.wikipedia.org/wiki/Corporate_raid
165. Corporate and Criminal Fraud Accountability- Sections 801 to 807 of the
Sarbanes Oxley Act of 2002 are known collectively as the Corporate and Criminal Fraud
Accountability Act. The Act details criminal penalties for securities fraud and protects
employees-turned-whistleblower of publicly traded companies from retaliatory actions by
their employers.
 https://www.complianceonline.com/corporate-and-criminal-fraud-accountability-act-
overview-and-summary-of-requirements
166. Executive Director- An executive director is the senior operating officer or
manager of an organization or corporation, usually at a nonprofit. Their duties are similar
to those of a chief executive officer (CEO) of a for-profit company. The executive director
is responsible for strategic planning, working with the board of directors (B of D), and
operating within a budget.
https://www.investopedia.com/terms/e/executive-director.asp
167. Non-Executive Director- A non-executive director is a member of a company's
board of directors who is not part of the executive team. A non-executive director
typically does not engage in the day-to-day management of the organization but is
involved in policy making and planning exercises.
https://www.investopedia.com/terms/n/non-executive-director.asp
168. Independent Director- An independent director is a member of the board of
directors who (1) do not have a material relationship with the company, (2) is not part of
the company’s executive team, and (3) is not involved with the day-to-day operations of
the company.
corporatefinanceinstitute.com/resources/careers/jobs/independent-director/
169. Articles of Incorporation- are a set of formal documents that establish the
existence of a company in the United States and Canada. For a business to be legally
recognized as a corporation, it must file these documents with the Secretary of State or
company registrar where the company chooses to operate. Some states, such as
Nevada and Delaware, attract a large number of firms seeking incorporation due to their
favorable tax advantages and regulatory environments.
https://corporatefinanceinstitute.com/resources/knowledge/other/articles-of-incorporation
170. By-Laws- Bylaws are legally enforceable documents that instruct the
corporation, shareholders, officers, and directors how the affairs of the business must be
conducted.
https://www.upcounsel.com/bylaws
171. Board Resolution- A board resolution is a record of decisions made by the
Board of Directors during a board meeting. It is a formal document that identifies the
roles of all corporate officers and their votes over a particular decision concerning the
welfare of a company. It is used to pen down every minute detail of the board meeting.
https://eqvista.com/documents/board-resolution-required/