Business Environment and Internal Control Factors
From Open Risk Manual
Definition
Business Environment and Internal Control Factors (BEICF) is a regulatory term[1] that denotes the set of tools and information generated internally be a regulated firm to inform is management of Operational Risk
Components
- Internal Controls and associated Risk and Control Self Assessments
- Key Risk Indicators / Key Performance Indicators
- Audit Scores / Audit Findings
References
- ↑ Basel II Standard
