Workflow Templates: Internal Controls checklist

step"=>"Ensure the organization has a clear written statement of its internal control objectives."}

step"=>"Verify that clear lines of authority and responsibility are established."}

step"=>"Check that ethical standards are promoted and enforced across the organization."}

step"=>"Identify and analyze relevant risks to the achievement of the organization's objectives."}

step"=>"Ensure there is a system in place to monitor changes that could affect internal controls."}

step"=>"Assess the potential for fraud within the organization, including any incentives or pressures."}

step"=>"Review and confirm that control activities are integrated into the business processes."}

step"=>"Ensure that appropriate segregation of duties is maintained."}

step"=>"Confirm that policies and procedures are established and implemented to ensure that directives are carried out."}

step"=>"Check that relevant information is identified, captured, and communicated in a timely manner."}

step"=>"Ensure that there are mechanisms in place for effective internal communication."}

step"=>"Verify the organization has established and maintained open communication channels with external parties."}

step"=>"Regularly review internal controls to ensure their continued effectiveness."}

step"=>"Ensure there are processes to report deficiencies in internal controls to appropriate levels of management."}

step"=>"Verify that actions are taken to address identified weaknesses in internal controls."}

Internal Controls checklist