Internal Controls Review. The CONTRACTOR will cooperate with an independent third-party auditor’s study, evaluation, and testing of the effectiveness of the CONTRACTOR’S internal controls over its performance of SERVICES at least once per year. The study and evaluation shall be at the BOARD’S expense.
Internal Controls Review. Coupled with our risk assessment services, internal controls reviews include interviews and walkthroughs to identify processes, risks, and controls of the specific areas to be reviewed. An assessment of any potential business and IT risks, fraud risks, applicable laws and regulations, management risk management activities, and existence of policies and procedures can be conducted. This information is used to finalize the scope of the audit and an audit program will be developed accordingly. Issues identified during the controls review are communicated to management. Upon completion of the audit program a request list is distributed to the process owners and relevant stakeholders. We work to put together an action plan and facilitating additional reviews to track progress.
