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The Chief Executive Officer (the top manager) of the organization has overall responsibility for designing and implementing effective internal control. More than any other individual, the chief executive sets the "tone at the top" that affects integrity and ethics and other factors of a positive control environment. In a large company, the ...
Risk management, internal control, and accounting estimates and judgments were the top priority areas for 2007. 41% were "very satisfied" with the internal audit function, while 52% were "somewhat satisfied." Two-thirds felt the chief internal audit position was for a professional internal auditor, rather than as a "stepping stone" to other roles.
Chief technical officer (CTO) - A variation of chief technology officer; Chief technology officer (CTO) - CTOs make decisions for the overarching technology infrastructure that closely align with an organization's goals, and tend to be more focused on strategic and customer facing or product issues. While CIOs focus more on internal ...
A similar definition has been developed by the government auditors in the INTOSAI’s Internal Control Standards: "A committee of the Board of Directors whose role typically focuses on aspects of financial reporting and on the entity's processes to manage business and financial risk, and for compliance with significant applicable legal, ethical ...
The responsibilities of the chief compliance officer include: Leading enterprise compliance efforts; Designing and implementing internal controls, policies, and procedures to ensure compliance with applicable local, state, and federal laws and regulations, as well as third-party guidelines
Initiatives include an anonymous reporting system that allows employees to report suspicious activities without fear of reprisal.
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. [1]
In business, the comptroller is the person who, independently from the chief financial officer in some countries, oversees accounting, and the implementation and monitoring of internal controls. In countries such as the United States, the United Kingdom, Australia, New Zealand, Israel, and Canada, a comptroller or financial comptroller reports ...