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Management is responsible for establishing and maintaining the control environment. Auditors play a role in a system of internal controls by performing evaluations and making recommendations for improved controls. Furthermore, every employee plays a role in either strengthening or weakening the Institution’s internal control system. Therefore, all employees need to be aware of the concept and purpose of internal controls.
Internal control is all of the policies and procedures management uses to achieve the following goals. Management Responsibility: Administrative management is responsible for maintaining an adequate system of internal control. Management is responsible for communicating the expectations and duties of staff as part of a control environment. They are also responsible for assuring that the other major areas of an internal control framework are addressed. Staff Responsibility: Staff and operating personnel are responsible for carrying out the internal control activities set forth by management. The framework of a good internal control system includes: Internal control activities are the policies and procedures as well as the daily activities that occur within an internal control system. A good internal control system should include the control activities listed below. These activities generally fit into two types of activities. Click on the links below for information regarding these activities including best practices.
Other Internal Control Best PracticesWith a good internal control system in place, other considerations to keep in mind include:
Additional InformationWashington State Office of Financial Management's guide to internal control and auditing |