Input validation, three-way matching (order, delivery note, invoice), approval limits and automated calculations are examples. Their effectiveness depends on the supporting IT general controls.
Source: BDS 315
Related terms
IT general controlsControls over access management, change management, IT operations and system development that ensure information systems operate reliably.Internal controlProcesses and controls designed by management to provide reasonable assurance regarding the effectiveness of operations, the reliability of financial reporting and compliance with laws and regulations.Segregation of dutiesA fundamental internal control principle requiring that initiating, approving and recording transactions and safeguarding assets be assigned to different people.Compliance auditAn examination of whether an organisation's activities are carried out in accordance with the relevant laws, regulations, contracts or internal rules.Compliance officerThe authorised person responsible for running the compliance programme for the prevention of money laundering and terrorist financing at an obliged entity.Compliance programmeThe full set of policies, procedures, controls, training and monitoring activities an organisation puts in place to ensure compliance with laws and internal policies.
Last updated: October 31, 2026 · This definition is for general information only.