Internal controls
Internal controls: The policies, procedures, and processes that an organization implements to achieve its objectives, manage its risks, and ensure the reliability and integrity of its information and reports. It is used in financial reporting, compliance, and risk management. Examples of internal controls include management oversight, segregation of duties, and independent verification and validation.
International Safe Harbor Privacy Principles
International Safe Harbor Privacy Principles: The International Safe Harbor Privacy Principles were invalidated in October 2015 by the European Court of Justice. They were replaced by the EU-U.S. Privacy Shield framework in July 2016, which itself was invalidated in July 2020. Organizations previously relying on Safe Harbor now typically use mechanisms like Standard Contractual Clauses […]
International Standard on Assurance Engagements (ISAE)
International Standard on Assurance Engagements (ISAE): A set of global standards developed by the International Auditing and Assurance Standards Board (IAASB) that provides guidelines for conducting assurance engagements. ISAE standards, such as ISAE 3000 and ISAE 3402, are used to evaluate and report on financial and non-financial information, ensuring the reliability of systems, processes, and […]
International Standards Organization (ISO)
International Standards Organization (ISO): An independent, non-governmental international organization that develops and publishes standards to ensure the quality, safety, and efficiency of products, services, and systems across various industries. ISO standards, such as ISO 27001 for information security and ISO 9001 for quality management, are widely adopted to improve operational performance and regulatory compliance.
International Traffic in Arms Regulations (ITAR)
International Traffic in Arms Regulations (ITAR): A set of US government regulations that control the export, import, and transfer of defense-related articles and services. This includes data and technical information related to defense and military technologies. Organizations that deal with such materials are required to be ITAR compliant, meaning they must have protocols in place […]
Internet banking
Internet banking: Internet banking, also known as online banking, enables customers to perform financial transactions electronically via their bank’s secure website. This service provides a convenient way to manage accounts without physically visiting a bank branch. Functions available through Internet banking include fund transfers, bill payments, account management, and loan applications.