Formalization of risks and control activities in business process

Abstract

It has been an important issue in society to evaluate effectiveness of control activities in business processes in order to ensure that control activities are dealing with risks as expected. In this paper, we propose a method to model business processes with risks and control activities formally in order to verify effectiveness of control activities precisely. Formal descriptions gives us deeper understanding of risks and control activities, and by formal verification, we can evaluate control activities in a precise way. Our approach to formal modeling of business processes with risks and control activities is modeling business processes by focusing on activities related to documents which are handled during business activities. The main contribution of this work is to show how we can solve problems in risk managements of business domain by application of a technology in Computer Science and Information Engineering. © 2012 Springer-Verlag GmbH.