Sentence examples for effectiveness of internal control from inspiring English sources

For instance, the former Comptroller General of the United States testified to Congress ''that expanding auditors' responsibilities to report on the effectiveness of internal control over financial reporting would assist auditors in assessing risks for the opportunity of fraudulent financial reporting..

Of particular interest in this study are the requirements for annual audit and reporting of management's and auditor's assessment of the effectiveness of internal control for banks with $500 million or more in total assets (raised to $1 billion in 2005).

The contribution of this study is the finding that both the use of term limits and election of the Finance official are associated with fewer instances of internal control weaknesses, implying that these election policies have a meaningful effect on governance quality, impacting the effectiveness of internal controls.

It requires that auditing firms certify the effectiveness of internal controls.

We investigate the effect of internal control employees (ICEs) on internal control quality.

The Department is responsible for examining and evaluating the adequacy and effectiveness of (1) the systems of internal control and their related accounting, financial, and operational policies and (2) procedures for financial and compliance monitoring and reporting.

Holds the responsibility for monitoring and evaluating the adequacy and effectiveness of the Organization's system of internal control, financial management and use of assets.

These are all components of the control environment, which forms the foundation of internal control.

To prevent a repeat of the scandals that cost investors billions, companies are now required in annual reports to have chief executives and chief financial officers attest to "the effectiveness of the internal control structure and procedures of the issuer for financial reporting".

As elections have been shown to improve public officials' performance via accountability, appropriate use of elections is expected to have a pivotal effect on a municipality, ultimately impacting the operating effectiveness of the internal control system.

In addition, Section 404 requires a company's external auditor to examine and report on management's assessment of internal controls, as well as the effectiveness of the controls themselves.