Internal Controls definition

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 Controls means systems and procedures designed to prevent and detect fraud, waste, and abuse; promote and encourage compliance with applicable laws, rules, contracts, grant agreements, and best practices; support economical and efficient operations; ensure reliability of financial records and reports; and safeguard assets.
Internal Controls shall have the meaning set forth in Section 3.5(c).

Examples of Internal Controls in a sentence

  • Provide appropriate assistance to participants on an as-needed basis and be available to participants (and host employers) to assist as facilitators, counselors, and information resources.(k) Internal controls.

  • SECTION IIFINANCIAL STATEMENT FINDINGS AND RESPONSES (CONTINUED) 2020-002 Manual Journal Entry Review and Approval Criteria: Internal controls should be in place that provide reasonable assurance that an individual cannot misappropriate funds without such action being detected during the normal course of business, and that evidence of journal entry review is maintained.

  • Internal controls are to compliment the work conducted by the Certified Public Accountant and Audit Committee.The company’s assets to be controlled include office equipments, computers, machinery, information,strategic plan, product innovations, company’s policy and customer list, etc.The company has the policy that all staffs should be responsible in maintaining the assets of the company or of the customers with cautiousness and these assets shall be kept in the safe place.

  • Internal controls and / or business review, to determine the accuracy and efficiency of internal controls in addressing identified risks.

  • Criteria: Internal controls should be in place at the City to ensure that payments and disbursements made with purchase cards maintain proper documentation and support.


More Definitions of Internal Controls

Internal Controls has the meaning set forth in Section 3.1(u).
Internal Controls means fiscal and operational controls that ensure safe and proper use of a standard EFT system and mitigate the potential for fraud and abuse. For purpose of N.J.A.C. 5:30-9A.1 et seq., internal controls shall include technological safeguards and cyber security practices, as well as processes affected by the governing body, management, and other personnel establishing fiscal and operational controls that reduce exposure to risk of misappropriation.
Internal Controls means a process, implemented by a Recipient or Subrecipient, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: (a) effectiveness and efficiency of operations, (b) reliability of reporting for internal and external use, and (c) compliance with applicable laws, regulations, and requirements.
Internal Controls has the meaning set forth in Section 2(a)(xxiii)(A)(III).
Internal Controls means the plan of orga- nization and methods and procedures adopt- ed by management to ensure that:
Internal Controls means a process, implemented by a non-Federal entity, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:
Internal Controls means the facility’s system of internal controls.