Wahid decision - How internal controls in achieving your organization's goals
Wahid decision - How internal controls in achieving your organization's goals
Monitoring is the process of evaluating and assessing the systems of internal control to ensure that the procedures are consistently applied over an extended period of time. Internal control systems need to be monitored a process that assesses the quality of the system's performance over time. Ongoing monitoring occurs in the ordinary course of operations, and includes regular management and supervisory activities, and other actions personnel take in performing their duties that assess the quality of internal control system performance. The scope and frequency of separate evaluations depend primarily on an assessment of risks and the effectiveness of ongoing monitoring procedures. Internal control deficiencies should be reported upstream, with serious matters reported immediately to top administration and governing boards.