Requirements of part A.docx - Requirements of part A Entity-level controls define organization\u2019s environment or atmosphere They are designed to

Requirements of part A.docx - Requirements of part A...

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Requirements of part A: Entity-level controls define organization’s environment or atmosphere. They are designed to mitigate risks that exist at the organization wide level (internal and external risks). They are used to monitor operations, audit committee, internal audit function and self-assessment programs. Entity level controls that can be founded in SHR Corporation are as follows: Independent and objective internal audit function/committee: In SHR Corp., one can expect to find an organizational culture that allows the internal audit function to fulfill its responsibilities free from interference. Also, the internal auditors have an unbiased mental attitude that allows them to perform engagements in an honest manner and no significant quality compromises are made. This helps to provide objective advice to mitigate risks and manage control process. Ethical conduct and integral policies: In SHR Corp., one can expect to find an organizational environment where policies, procedures, guidelines and tools are clearly documented and communicated. The organization demonstrates ethical framework and integral values which are imbedded in every department.
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