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

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

  • 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.

  • The Internal Control Systems are commensurate with the size of operations of the Company and are manned by qualified and experienced personnel.In addition to internal controls, the internal audit function has also been set up by a firm of Chartered Accountants, who conducts audit on the basis of the Accounting Standards and Annual Audit Plan.

  • The Internal Control Systems provide, among other things, reasonable assurance of recording the transactions of its operations in all material respects and of providing protection against significant misuse or loss of Company’s assets.

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

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

  • The Company has duly established and maintained its internal controls and procedures for the financial reporting and evaluated the effectiveness of Internal Control Systems.

  • Maintain effective Internal Control Systems to minimise fraud and error.

  • Basic policy on the development of internal control systemsSince resolving the Basic Policy on the Development of Internal Control Systems in 2006, NSK's Board of Directors has continually reviewed and updated this policy in light of the changing societal expectations placed on companies.

  • The Group’s Internal Control Model is based on the best practices described in the following documents: “Enterprise Risk Management – Integrated Framework” by the COSO (Committee of Sponsoring Organizations of the Treadway Commission) and “Framework for Internal Control Systems in Banking Organizations” by the Bank for International Settlements (BIS).The Internal Control Model therefore comes within the Integral Risk Management Framework.

Related to Internal Control Systems

  • Internal control means a process effected by an entity's governing board, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:

  • Internal Controls has the meaning set forth in Section 4.07(d).

  • 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 a system for controlling the light output of a Luminaire, including:

  • 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 Company’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 as defined in paragraph 1.1 of Schedule 4 (Heads of Expenditure) (and shall, for the avoidance of doubt, not include any revenue costs or capital investment relating to the implementation of any project pursuant to an Annual Business Plan) and excluding Joint Committee Costs

  • Systems means servers, hardware systems, databases, circuits, networks and other computer and telecommunications assets and equipment.

  • Internal Systems means the internal systems of each of the Corporation that are presently 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, 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;

  • 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.

  • 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 elements of the electric system that results in electricity being delivered to and from an applicant in the amount desired while avoiding adverse effects on the adequacy and security of the electric supply, defined respectively as:

  • Interim controls means a set of measures designed to temporarily reduce human exposure or likely exposure to lead-based paint hazards, including specialized cleaning, repairs, maintenance, painting, temporary containment, ongoing monitoring of lead-based paint hazards or potential hazards, and the establishment and operation of management and resident education programs.

  • internal waters means any navigable river or waterway within the State of California.