Internal Control Questionnaire

Internal Control Questionnaire - Prepared by Date Reviewed...

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Prepared by: _____ Date: ___________ Reviewed by: ____ Date: ___________ CORPORATE GOVERNANCE INTERNAL CONTROL QUESTIONNAIRE Introduction Corporate Governance is defined as the system by which organizations are directed and controlled. The role of the Board is to develop and execute strategy; therefore a governing body is required which has the right mix, the right skills and the right attitudes. The ICQ outlined below is designed for public sector audits where the time budget is 2 – 3 days. Question Yes No N/A Comments Responsibility Do members of the Board understand their responsibilities? Is there a transparent and clear structure of responsibility, which differentiates between what, the Board can do, and what managers and employees can do? Does the Board and the relevant sub-committees have clearly defined terms of reference? Membership Does the organization have a Search or Nominations Committee, which is responsible for selecting Board members? Who makes the
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This note was uploaded on 08/23/2011 for the course ACC 302 taught by Professor Peoples during the Spring '11 term at Kaplan University.

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Internal Control Questionnaire - Prepared by Date Reviewed...

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