Week 3-3

Question 1

Process risk analysis

Answer 1

• Identify key processes
• Understanding purpose of information systems, data flows and transactions of key processes
• Identify process risks
• Evaluate process risks
  o Controls
  o Performance indicators
• Process risk  RMM

Question 2

Operational control risk informative of financial reporting deficiencies? – Lawrence, Minutti-Meza, Vyas (2017)

Answer 2

Conclusion
- Operational control risk assessments provide information on the overall internal control environment of firms.
- Role of qualitative information

Question 3

types of process mining

Answer 3

• Discovery: descriptive model reflecting the events without
  using other information
• Conformance: compare the prescribed process model with the
  actual process model recorded in the event log
• Enhancement: improve processes by information obtained
  from the event log