Internal Controls and Risk Management: Making Risk Management a Part of Organizational Culture

In this session (Part II), we will explore how perception and organizational culture play an important role in establishing and maintaining effective internal controls. We than will discuss how to derive the most benefits from segregation of duties and how to consider capacity risks and impact on an organization. We will finish by looking at how financial reporting is an important part of IACS and the advantages of providing formal written responses to audit management letters when findings appear.