Sentence examples for system of internal controls from inspiring English sources

These are all part of the company's system of internal controls.

It concluded that Mr. Skilling "bears substantial responsibility for the failure of the system of internal controls" to reduce the risks in the partnerships.

The Comptroller of the Currency's office faulted the bank for "an inadequate system of internal controls and independent testing".

Abbey National's system of internal controls is being monitored by the Financial Services Authority after problems with the bank's ability to manage its risks were uncovered.

It added that the bank had an adequate system of internal controls in place to guard against the illegal bribing of foreign government officials.

The Scouts' excuse was that the files, compiled at least since the 1920s, were a system of internal controls, to ensure that known abusers could not rejoin scouting.

"However, the rapid pace of implementation and evolving nature of the program have hampered efforts to put a comprehensive system of internal control in place," it said.

Furthermore, the executives must certify that financial controls and procedures have been implemented and evaluated, and that any changes to the system of internal control since the previous quarter have been noted.

The intended benefit of internal control audits is to "increase market efficiency by improving investor confidence in the reliability of a company's financial disclosure and system of internal control over financial reporting" (https://www.sec.gov/rules/final/33-8238.htm).

They included requirements for greater board independence, increased audit committee responsibilities, codes of ethics covering company e financial officers, CEO certification of financial statements, an independent audit of a company's system of internal control over financial reporting, and more instances in which in-house counsel would have to report material violations to the SEC.

In his comment on the report, the House of Commons Accounting Officer Malcolm Jack said early work by the NAO had "identified problems with the system of internal control", which had not been rectified "as quickly as I would have liked".