Using Multilingual ONTology for Internal FInancial Control Print E-mail



Traditional e-learning and knowledge management contents developed by previous EU projects often succeeded in their primary user communities directly influenced by the core development groups, however wider exploitation barriers are identified, such as lack of terminology based multilingual support and communication gap between the formalized knowledge representations and the external wider users of the information and communication systems implementing this ontology.

The use of terminology and ontology interoperability framework for the multilingual information resources of the internal financial control assessment training, certification and implementation processes ensures that the basic methodology standards concerning information activities will be observed by terminology and ontology experts in order to achieve re-usability of data and interoperability of data structures in both professional vocational training and workplace environments.

The added values of this innovation transfer are the wider European language and geographical coverage of information systems supporting the EU Certification processes relevant for Europe-wide approval of the Internal Financial Control Assessor diplomas, and the wider number of regional and sectoral communities directly participating in work-place based e-learning and knowledge sharing of internal financial control best practices.


Internal Financial Control Assessor training and certification programme

The key objective of this training programme is setting up a modular structure for assessment of internal controls over financial reporting, which is commonly applicable in each sector under related regulatory directives (like financial regulation of using EU, national and other public funds; Basel II for bank sector; SOX or EU Company Law for listed companies, etc.). This modular structure applies the ISO/IEC 15504 standard based evaluation method called Governance SPICE. The features of internal financial control processes and the Governance SPICE Assessment method can be acquired by taking the training course containing online and traditional learning elements. A modular certificate - issued by the European Certification and Qualification Association - can be achieved by passing online exam based on the integrated skill card of "Internal Financial Control Assessor".

The concepts of the COSO Internal Control framework integrated with Enterprise Risk Management and the ISO/IEC 15504 (SPICE) process assessment methodology were used for the development of the “European Internal Financial Control Assessor” programme including adaptation of the Principles, Attributes and Approaches of the COSO 2006 Guidance as agreed with the COSO Board for Spanish, German, Romanian, Slovak and Hungarian translations.

From 2008, an innovation transfer project called Multilingual ONTology for Internal FInancial Control (LLP-LDV-TOI-2008-HU-002) co-funded by the European Commission is enhancing the training programme by implementing a terminology and ontology interoperability framework for achieving the following specific objectives:

  • Facilitating local training providers (trainers) and trainees in using their own languages based on multilingual ontology,
  • Involving European Certification and Qualification Association for providing online exams and certification programme in more local languages,
  • Supporting certification holders (assessors) and wider potential user communities by utilizing common knowledge (terminology) in different countries and working environments,
  • Further developing multilingual e-content tools based on the terminology and ontology interoperability framework (online learning, certification and assessment portals).

The Europe-wide training providers may offer the certification and training programme accredited by the European Certification and Qualification Association. Working groups of SAI, IIA, ISACA, ISO/IEC 15504 communities are invited for future cooperation. 

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