PEMPAL IACOP Glossary of Terms: Internal Control

June 2020

This glossary is a product of knowledge sharing and collaboration among PEMPAL IACOP members.

The IACOP Internal Control Working Group identified that a glossary of terms relating to internal control, primarily for use by Central Harmonization Units and internal auditors, would help promote consistent understanding of key internal control terms.

The glossary focuses exclusively on internal control (rather than internal audit) terms and reflects an extensive collaborative process, including among practitioners and policymakers in PEMPAL member countries. PEMPAL members expect the glossary to add value in their countries by:

  • Generating common understanding of technical terms amongst public sector officials and accounting and audit
  • professionals.
  • Ensuring accurate translation of technical terms. Internal control systems are new for many countries (which in the past were highly centralized) and if the terminology is not accurately translated the meaning of terms can be confusing.
  • Promoting common understandings of the purpose of internal control amongst professionals, managers, and politicians, especially as part of the process of internal control and internal audit reform.
  • Helping harmonize national legislation with internationally recognized terminology and standards.
  • Enhancing training – particularly in universities but also for public sector internal auditors, internal control coordinators, and managers and public servants involved in implementing internal control.
  • Supporting raising awareness of internal control by helping explain the theory to managers, politicians, and others involved  in internal control implementation.