Business Commons^™

Enterprise Risk Management For Fishing Tournaments, George Louis Hunt, Jack R. Ethridge, Violet Rogers

Faculty Publications

The fishing tournament industry is confronted with many of the same risks as other industries (such as financial statement misstatements), share some risks specific with others (such as cheating in casinos), and face some unique risks (such as the risk of competitors adding weight to fish).

This teaching case explores some of the risks inherent in the fishing tournament industry. Students are given background information about a how a tournament operates and then asked to perform an overall risk assessment using the COSO enterprise risk management framework. Elements of the assignment include assessing the internal environment, setting of objectives, and …

A Mathematical Contraction And Automated Analysis Of Internal Controls, Andrew D. Bailey Jr, Gordon Leon Duke, James Gerlach, Chen-En Ko, Rayman D. Meservy, Andrew B. Whinton

Faculty Publications

This paper presents a precedent oriented computer assisted method of designing, analyzing and evaluating systems of internal controls. The ..!..nternal Control _!iodel, TICOM III, is fundamentally a design and analysis tool useful in the context of Automated Office Information Systems (AOIS's). Traditional analysis and evaluation tools, such as flowcharting, written narratives and questionnaires, are inefficient, if not insufficient, to support the design and control analysis of these new systems. The advantages of TICOM III over traditional methods such as narrative description, questionnaires and flowcharts are: (1) the evaluation can be more rigorous and exhaustive because of the speed, accuracy and …