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ALM
Application Lifecycle Management
Application Access
Access to an application via direct connection, Web services or a terminal.
BaFin
Germany: financial regulator
Beta
Hedge Funds: market exposure
CISSP
Certified Information Systems Security Professional
CPPI
Constant Proportion Portfolio Insurance
Donaldson, William
Former chairman of the Securities and Exchange Commission
Dynamo
A public Constant Proportion Portfolio Insurance product BNP
EPA
Environmental Protection Agency
ERM
Enterprise Risk Management
Extranet Access
Access for employees and business partners to internal Web-enabled applications.
FFS
South Korea: Financial Supervisory Service
Financial Accounting Standards Advisory Council
Overseer of the Financial Accounting Standards Board.
HMRC
Her Majestys Revenues and Customes
IAPP
International Association of Privacy Professionals+D137
Integrity and Ethics
Reside under the Control Environment. The senior management need to set the tone for the company. Whilst they might be considered "soft" and "intangible" concepts, they affect the design, administration and monitoring of other internal controls. According to COSO, the actions of management is more important than having them written down.
Negative examples of integrity and ethics are the infamous Enron and WorldCom scandals.
A positive example is BP which sets a high bar for ethical behaviour by employees. To back this policy up they make mention of it and its effectiveness in financial reports.
ISACA
Information Systems Audit and Control Association
ISDA
International Swaps and Derivatives Association
KKR
Kohlberg Kravis Roberts
Mezzanine
When applied to finance refers to moderate risk or mid level.
Nonrepudiation
Reducing an end-users ability to deny he was the one who authorized an action or sent a message.
NTS
South Korea: National Tax Service
NYSE
New York Stock Exchange
Private Equity Intelligence
Research group specialising in the private equity arena.
PSLRA
Private Securities Litigation Reform Act of 1996
Public Company Accounting Oversight Board
Organization set up under Sarbanes-Oxley Act 2002 to regulate auditing of public companies and auditors.
Risk Assessment
One of five components of internal control according to the COSO Internal Control Framework
Risks faced by the company have to be recognized. Objectives have to be set, integrated into the value-chain. To achieve the objectives, risks have to be identified, analyzed and develop methods to manage them.
SEC
Securities and Exchange Commission.
Section 404
Section of the Sarbanes-Oxley Act of 2002 mandating CEOs and CFOs of public companies to evaluate and report on the effectiveness of an entity's internal control over financial reporting.
Significant Deficiency
An internal control deficiency that adversely affects the entity's ability to initiate, record, process, or report external financial data reliably in accordance with generally accepted accounting principles (GAAP). A significant deficiency could be a single deficiency or a combination of deficiencies, that results in more than a remote likelihood that a misstatement of the annual or interim financial statements that is more than inconsequential in amount will not be prevented or detected.
SOX
Shorthand for Sarbanes-Oxley.
SPI
Synthetic Portfolio Insurance
TOCOM
Tokyo Commodity Exchange
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