Internal Control Frameworks B01A-022x

Based on a system of internal control, identify four (4) key roles and responsibilities.

• Internal Auditors. They are noted as the third line of defense. They assess, monitor, and report on the effectiveness of internal controls.
• Support Functions. They are enablers, who support management and those charged with governance.
• Management. They maintain and monitor the effectiveness of controls.
• Board of Directors. They provide oversight of key controls.