9.06

Risk Assessment

Principle 9 - Identify, Analyze, and Respond to Change

Attribute 9.06 - As significant changes that an entity may need to respond to can occur quickly and unexpectedly, establishing a change assessment process in advance of significant changes occurring is essential to maintaining an effective internal control system as change occurs. This is especially important in situations where management may need to rapidly implement a new program or substantially change an existing program. For example, management may need to implement an emergency assistance program in response to public health emergencies, natural or human-caused disasters, or other catastrophic events.

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