Attention: The URL for GoJ Internal Auditors Cummunity website is now online.mof.gov.jm/giac

GIAC Glossary of terms

We have provided explanations of some Internal Auditing terms. Please click on a highlighted letter below.

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C Terms

1. Cause
The reason for the difference between the expected and actual conditions of a process, system or activity. In other words, the auditor seeks to explain the why the difference exists. (IIA Standards)

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2. Circulars, MOFP
Directives and guidelines issued by the Ministry of Finance and Planning (MOFP) which governs the financial and operational activities of the GOJ Ministries, Departments and Agencies.

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3. Circulars, OSC
Directives and guidelines iissused by the Office of the Services Commission (OSC), which governs the conditions of service for individuals employed within the GOJ.

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4. COBIT
COBIT (Control Objectives for Information and Related Technologies) is an IT governance framework & supporting toolset that enables clear policy development & good practice for IT control throughout organizations.

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5. Code of Ethics, IIA
The Code of Ethics of the IIA includes: principles relevant to the profession & practice of internal auditing; and rules of conduct that describe behavior norms expected of internal auditors.

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6. Compensating Controls
Additional procedures designed to reduce the risk of errors or irregularities within a process or system. Such controls mitigate increased risk where adequate resources may not exist to prevent the errors from occurring.

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7. Compliance
The ability to reasonably ensure conformity and adherence to organisation policies, plans, procedures, laws, regulations, and contracts. (IIA Standards)

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8. Compliance Testing
Testing designed to establish the controls established by management are operating as intended and are effective.

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9. Computer Assisted Audit Techniques
Computer programs and other techniques designed to extract, analyse or test data held on computerised files or to test the working of computer processes and controls.

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10. Conclusion
The internal auditor?s evaluations of the effects of the findings on the activities reviewed. Conclusions usually put the findings in perspective based upon their overall implications.

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11. Condition
The factual evidence, which the internal auditor found in the course of the {audit} examination. In other words, explain what does exist in a business process, system or activity (IIA Standards)

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12. Continuing Professional Development
The engagement of internal auditors in attending training programs or participating in activities that are relevant to their professional development.

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13. Control Environment
The attitude and actions of the Accounting Officer and senior management regarding the significance of control within the organisation. The control environment provides the discipline and structure for the achievement of the primary objectives of any internal control system.

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14. Corporate Governance
The combination of processes and structures implemented by the Board/Permanent Secretary in order to inform, direct, manage and monitor the activities of the organization toward the achievement of its objectives.

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15. COSO
COSO (Committee of Sponsoring Organisation of the Treadway Commission) is a voluntary private sector organization dedicated to improving the quality of financial reporting through business ethics, effective internal controls, and corporate governance.

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