Internal Control Systems definition

Internal Control Systems means the systems described in Section 4.16.
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Internal Control Systems means the systems described in ss. 4.18.
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Internal Control Systems means the systems described in Section 3.9.
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Examples of Internal Control Systems in a sentence

  • The Internal Control Systems and procedure are adequate and commensurate with the size of the Company.

  • The Company has put in place adequate Internal Control Systems and Procedures including adequate financial controls with reference to the financial statement.

  • Internal Control Systems has been designed to provide reasonable assurance that assets are safeguarded, transactions are executed in accordance’s with management’s authorization and properly recorded and accounting records are adequate for preparation of financial statements and other financial information.

  • On an annual basis, the Board of Directors reviews the corporate strategy, main business risks and Internal Control Systems.

  • We accept responsibility for establishing and maintaining internal controls for financial reporting and that we have evaluated the effectiveness of Internal Control Systems of the Company pertaining to financial reporting and have disclosed to the Auditors and the Audit Committee, deficiencies in the design or operation of such internal controls, if any, of which we are aware and the steps we have taken or propose to take to rectify these deficiencies.

  • The reports and findings of the Internal Auditors and the Internal Control Systems are periodically reviewed by the Audit Committee.

  • Internal Control Systems and Adequacy The Company has disciplined approach to cost and follows prudential norms in every sphere of its activities.

  • The Company has appointed an Independent Auditor to ensure compliance and effectiveness of the Internal Control Systems in place.

  • Jensen, The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems, 48 J.

  • The Audit Committee evaluates the suitability of the Internal Control Systems.

Related to Internal Control Systems

  • Internal control means a set of systems to ensure that financial and other records are reliable and complete and which ensure adherence to the entity's management policies, the orderly and efficient conduct of the entity, and the proper recording and safeguarding of assets and resources;

  • Internal Controls for districts means processes designed and im- plemented by districts to provide reasonable assurance regarding the achievement of objectives in the following categories:

  • Internal control over financial reporting means a process effected by an insurer’s board of directors, management and other personnel designed to provide reasonable assurance regarding the reliability of the financial statements, i.e., those items specified in Section 5(B)(2) through 5(B)(7) of this regulation and includes those policies and procedures that:

  • Control system means the combination of capture and control devices used to reduce emissions to the atmosphere.

  • Internal combustion engine or ‘engine’ means an energy converter, other than a gas turbine, designed to transform chemical energy (input) into mechanical energy (output) with an internal combustion process; it includes, where they have been installed, the emission control system and the communication interface (hardware and messages) between the engine's electronic control unit(s) and any other powertrain or non-road mobile machinery control unit necessary to comply with Chapters II and III;

  • Internal Control Event means a material weakness in, or fraud that involves management or other employees who have a significant role in, the Borrower’s internal controls over financial reporting, in each case as described in the Securities Laws.

  • Beam monitoring system means a system designed and installed in the radiation head to detect and measure the radiation present in the useful beam.

  • Internal Costs means the costs associated with each Council providing internal Council resources in relation to the City Deal which includes but is not limited to:

  • Systems has the meaning set forth in Section 8.2(a).

  • Internal Systems means the internal systems of the Company that are used in its business or operations, including, computer hardware systems, software applications and embedded systems.

  • Vapor control system means a system that prevents release to the atmosphere of gasoline vapors in excess of 80 milligrams per liter of gasoline loaded (4.7 grains per liter).

  • Inventory control system means a system described in Section 4-41a-103.

  • external engineering service means an engineering service situated outside the boundaries of a land area and that is necessary to serve the use and development of the land area;

  • Emission control system means the electronic engine management controller and any emission related component in the exhaust or evaporative system which supplies an input to or receives an output from this controller.

  • Monitoring System means a system established by BNY to fulfill the Responsibilities specified in clauses (d) and (e) of Section 1 of Article III of this Agreement.

  • external company means a foreign company that is carrying on business, or non-profit activities, as the case may be, within the Republic, subject to section 23(2);

  • Engineering controls means constructed containment barriers or systems that control one or more of the following: downward migration, infiltration, or seepage of surface runoff or rain; or natural leaching migration of contaminants through the subsurface over time. Examples include caps, engineered bottom barriers, immobilization processes, and vertical barriers.

  • Safeguards Monitoring Report means each report prepared and submitted by the Borrower to ADB that describes progress with implementation of and compliance with the EMP and the RP (as applicable), including any corrective and preventative actions;

  • Fraud Monitoring System means an off-line administration system that monitors suspected occurrences of ABT- related fraud.

  • Electronic Subcontracting Reporting System (eSRS) means the Governmentwide, electronic, web-based system for small business subcontracting program reporting. The eSRS is located at http://www.esrs.gov.

  • Internal Procedures means in respect of the making of any one or more entries to, changes in or deletions of any one or more entries in the register at any time (including without limitation, original issuance or registration of transfer of ownership) the minimum number of the Warrant Agent’s internal procedures customary at such time for the entry, change or deletion made to be complete under the operating procedures followed at the time by the Warrant Agent, it being understood that neither preparation and issuance shall constitute part of such procedures for any purpose of this definition;

  • Overall control efficiency means the efficiency of a control system, calculated as the product of the capture and control device efficiencies, expressed as a percentage.

  • Accounting system means the Contractor's system or systems for accounting methods, procedures, and controls established to gather, record, classify, analyze, summarize, interpret, and present accurate and timely financial data for reporting in compliance with applicable laws, regulations, and management decisions, and may include subsystems for specific areas such as indirect and other direct costs, compensation, billing, labor, and general information technology.

  • Stationary internal combustion engine means a spark or compression ignited, reciprocating internal combustion engine which is not a portable emission unit.

  • Internal Collaboration means collaborative arrangements within a group of companies or within various strategic business. units/subsidiaries/operating divisions in order to gain a strategic position whilst sharing resources, profits and losses as well as risks

  • Reliability means the degree of performance of the bulk electric system that results in electricity being delivered within Reliability Standards and in the amount desired. Electric system Reliability can be addressed by considering two basic and functional aspects of electric systems, which are Adequacy and Security.