Control Environment Clause Samples
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Control Environment. The Board of Directors consists of independent non-executive members who are appointed by the Minister of Mineral Resources. The Audit and Risk Committee consists of some Board members and two independent non- Board members. ▇▇▇▇▇▇ is managed by a CEO assisted by five General Managers, who together make up the Executive Management team. Mintek maintains a system of internal controls designed to provide reasonable assurance as to the integrity and reliability of its financial statements, to safeguard its assets and to minimise the risk of fraud. In terms of the Audit Committee charter, the Audit and Risk Committee reviews the effectiveness of the system of internal controls. A Risk Steering Committee assists in reviewing the risk management process and significant risks facing the organisation. In terms of the Risk Management Framework, this review is delegated to the CEO. The Internal Audit function is established and operational. The performance of the Internal Audit function is subject to evaluation by the Audit and Risk Committee, in terms of the Audit and Risk Committee and Internal Audit charters. Additionally, the Audit and Risk Committee reviews and approves the Internal Audit charter, internal audit plans and ongoing internal audit reports on the effectiveness of Mintek’s internal controls. Although Mintek is an entity within the Department of Mineral Resources (DMR), it is also accountable to the Department of Science & Technology (DST) for its Research and Development (R&D) and technology related activities. Strategic goals encompassing economic, technical, social and environmental objectives, determined by the Government and DMR, provide Mintek with a basis for evaluating its activities. These criteria are, therefore, also used in the assessment of significant risks facing Mintek.
6.1 Stakeholders The primary stakeholders are the Departments of Mineral Resources and Science & Technology. Users of financial statements: • Department of Mineral Resources • Department of Science & Technology • National Treasury • Banking institutions • South African Revenue Services • Suppliers and other creditors
Control Environment. Coupa employees are required to sign a written acknowledgement form documenting their receipt and understanding of the employee handbook and their responsibility for adhering to the policies and procedures therein. Employees are also required to sign a confidentiality agreement agreeing not to disclose proprietary or confidential information, including customer information, to unauthorized parties.
Control Environment. The Parties will define the control environment related to the Services. Seller will perform the Services in accordance with Seller’s policies and procedures, except as specifically required otherwise herein or as modified in an SDA. If required by Buyer, the Parties will develop reasonable and mutually agreed upon procedures to test the processes used by Seller to perform the Services by Seller on behalf of Buyer, in order to support Buyer’s audit and ▇▇▇▇▇▇▇▇-▇▇▇▇▇ management assertion requirements. These agreed upon procedures shall be performed by Buyer’s third party designated accounting firm, at Buyer’s sole cost and expense, and a report shall be delivered to both Parties on a timeline that is reasonable and acceptable to both Parties.
Control Environment. The control environment consists of the structures, processes and standards established to help carry out the internal control process. It includes management and governance functions, and the tone, awareness and actions of those in upper-level management positions. Expectations are set here, and values are inculcated throughout an organization. The strength of the internal control environment is influenced by many factors including organizational values and history, management philosophy and operating style, organizational structure or configuration, assignment of authority and responsibility, and employee expertise and proficiency. Risk assessment identifies and analyzes the risk factors that imperil an organization’s ability to achieve its objective of accurate financial information. These may include errors, violation of policy, fraud, or noncompliance. Risk assessment is an ongoing process of identification and analysis. Control activities are the policies and procedures that help ensure that management’s directives are carried out in an organization. Some common control activities include performance reviews, authorization, physical controls, and segregation of duties.
Control Environment. The Parties will define the control environment related to the Services. If required by Recipient, the Parties will develop reasonable and mutually agreed-upon procedures to test the processes used by Provider to perform the Services by Provider on behalf of Recipient, in order to support Recipient’s audit and ▇▇▇▇▇▇▇▇-▇▇▇▇▇ management assertion requirements. These agreed-upon procedures shall be performed by Recipient’s third party designated accounting firm, at Recipient’s sole cost and expense, and a report shall be delivered to both Parties on a timeline that is reasonable and acceptable to both Parties.
Control Environment. General complementary provisions to Section 1 of Annex B to the FFPA
(1) A written agreement must be concluded specifying, apart from the delegated tasks, the nature of the information and the supporting documents to be submitted to the delegating entity and the time limit within which they must be submitted. The agreement must enable the delegating entity to comply with the requirements from Annex B to the FFPA and this Annex. A sufficient audit trail shall be maintained. The Agreement shall provide for access by duly authorised agents or representatives of Serbia or the Union to information held by these delegated bodies and for investigation by such officials of applications including carrying out of checks on projects and recipients of aid and any other information they need for the execution of their tasks.
(2) The concerned structures, authorities and bodies of the Management and Control System (hereinafter referred to as "MCS") shall in all cases remain responsible for the efficient and sound management of the IPARD assistance concerned. It remains fully responsible for the legality and regularity of the underlying transactions, including protecting the Union's financial interest.
Control Environment. Sets the tone of an organization, influencing the control consciousness of its people. It is the foundation for all other components of internal control, providing discipline and structure.
Control Environment. Management Philosophy Security, Availability, Confidentiality, and Processing Integrity Management Security, Availability, Confidentiality, and Processing Integrity Policies Personnel Security
Control Environment. Lookout employees are required to sign a written acknowledgement form documenting their receipt and understanding of the employee handbook and their responsibility for adhering to the policies and procedures therein. Employees are also required to sign a confidentiality agreement agreeing not to disclose proprietary or confidential information, including client information, to unauthorized parties.
Control Environment. General complementary provisions to Section 1 of Annex B to the FWA
(1) A written agreement must be concluded specifying, apart from the delegated tasks, the nature of the information and the supporting documents to be submitted to the delegating entity and the time limit within which they must be submitted. The agreement must enable the delegating entity to comply with the requirements from Annex B to the FWA and this Annex. A sufficient audit trail shall be maintained. The Agreement shall provide for access by duly authorised agents or representatives of Albania or the Union to information held by these delegated bodies and for investigation by such officials of applications including carrying out of checks on projects and recipients of aid and any other information they need for the execution of their tasks.
(2) The concerned structures, authorities and bodies of the Management and Control System (hereinafter referred to as "MCS") shall in all cases remain responsible for the efficient and sound management of the IPARD assistance concerned. It remains fully responsible for the legality and regularity of the underlying transactions, including protecting the Union's financial interest.
(3) The responsibilities and obligations of the other body, notably concerning the control and verification of the compliance with the Agreements and any applicable guidelines, shall be clearly defined.
(4) The concerned structures, authorities and bodies of the MCS shall ensure that the other body has effective systems for ensuring that it fulfils its tasks in a satisfactory manner.
(5) The body shall explicitly confirm to the concerned structures, authorities and bodies of the MCS that it in fact fulfils its tasks and shall describe the means employed.
(6) The concerned structures, authorities and bodies of the MCS shall regularly review the tasks delegated to confirm that the work performed is of satisfactory standard and that it is in compliance with the Agreements.