Control

(1) A noun, used as a subject, e.g., existence of a control — a policy or procedure that is part of internal control. A control can exist within any of the five components. (2) A noun, used as an object, e.g., to effect control — the result of policies and procedures designed to control; this result may or may not be effective internal control. (3) A verb, e.g., to control — to regulate; to establish or implement a policy that effects control.

Source : COSO Integrated Internal Controls Framework

1. A noun, denoting an item, e.g., existence of a control – a policy or procedure that is part of internal control. A control can exist within any of the eight components. 2. A noun, denoting a state or condition, e.g., to effect control – the result of policies and procedures designed to control; this result may or may not be effective internal control. 3. A verb, e.g., to control – to regulate; to establish or implement a policy that effects control.

Source : COSO Integrated Risk Management Framework

Measure to modify risk.

Note 1: Controls are the result of risk treatment.
Note 2: Controls include any process, policy, device, practice, or other actions designed to modify risk.

Source : BS31100:2008 [ISO Guide 73]

Update on Wednesday, March 11, 2009 at 09:57PM by Andrew Smart

A control is a process or process step designed to maintain process integrity and reduce the likelihood and impact of risks. These must be specific enough to enable ownership by an individual role.

Source: Client Contribution