Internal Controls

Process

Involvement

Reasonable assurance

Bank reconciliation

Document matching

Lockbox systems

Internal audits

Segregation of duties

User training

Taxonomy

Financial risks

Operational risks

Strategic risks

Hazard risks

Internal Control-Integrated Framework

Control
Environment

The tone at the top

integrity and
ethical behavior

carry out duties
and responsibilities

participation of board
and audit committees

consistent, appropriate management
philosophy and operationg style

efficiency, effectiveness, and
reasonable internal control

assign authority and responsibility with
integrity and best interests

develop and enforce

Risk
assessment

Control
activies

Preventive
controls

Detective
controls

Corrective
controls

General
controls

Application
controls

Information and
communication

Monitoring