Managing the false alarms: A framework for assurance and verification of surveillance monitoring

Abstract

This article discusses methods to support assurance of surveillance monitoring and compliance verification knowledge management (CV-KM). The discussion includes aspects of primary monitoring systems, the different environments in which they operate, the verification problem solving and decision making tasks, the problem structure, and the coordination of the review process to facilitate truth maintenance and regulatory Meta rules. Based on the ALCOD (Alert Coding) prototype developed with the Surveillance Division of the Australian Stock Exchange (ASX), the surveillance operation is considered a primary monitoring function with the analysis of the resulting output the second-tier monitoring function-the assurance component.

Information systems, agency problems, and fraud

“…Liao et al's (2017) evidence also adds to a growing body of important work on the role of competencies and internal audit activity in organizations (Foorthuis et al 2016;Goldschmidt 2007;Huang et al 2016;Wu et al 2016). …”