Governance Analysis

From Corrective Action Plan AZ

US Government Accountability Office

Standards for Internal Control in the Federal Government (May 2025)

This section provides a structured analysis of governance performance gaps using the Green Book — Standards for Internal Control in the Federal Government (May 2025) published by the United States Government Accountability Office.

The following links may help you understand the Green Book, and why it was selected as a standard for assessing MC's governance.

Assessment Observations Compared to Green Book Components, Principles, & Attributes

Control Environment

Component: Control Environment - The foundation for an internal control system. It provides the discipline and structure to help an entity achieve its objectives.

  • Principle 3 - Establish Structure, Responsibility, and Authority
    • Attributes (3.01, 3.02, 3.03, 3.04, 3.05, 3.06, 3.07, 3.08, 3.09, 3.10, 3.11, 3.12)
  • Principle 4 - Demonstrate Commitment to Competence
    • Attributes (4.01, 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08)
  • Principle 5 - Enforce Accountability
    • Attributes (5.01, 5.02, 5.03, 5.04, 5.05, 5.06, 5.07, 5.08)
Risk Assessment

Component: Risk Assessment - The identification and analysis of risks facing the entity as it seeks to achieve its objectives. This assessment provides the basis for developing appropriate risk responses.

  • Principle 6 - Define Objectives and Risk Tolerances
    • Attributes (6.01, 6.02, 6.03, 6.04, 6.05, 6.06, 6.07, 6.08, 6.09, 6.10)
  • Principle 7 - Identify, Analyze, and Respond to Risks
    • Attributes (7.01, 7.02, 7.03, 7.04, 7.05, 7.06, 7.07, 7.08, 7.09, 7.10, 7.11, 7.12, 7.13, 7.14, 7.15)
  • Principle 8 - Assess Fraud, Improper Payment, and Information
    • Attributes (8.01, 8.02, 8.03, 8.04, 8.05, 8.06, 8.07, 8.08, 8.09, 8.10, 8.11, 8.12, 8.13, 8.14, 8.15, 8.16, 8.17, 8.18, 8.19, 8.20)
  • Principle 9 - Identify, Analyze, and Respond to Change
    • Attributes (9.01, 9.02, 9.03, 9.04, 9.05, 9.06, 9.07, 9.08, 9.09, 9.10, 9.11, 9.12, 9.13)
Control Activities

Component: Control Activities - The actions management establishes through policies and procedures to mitigate risks to achieving the entity's objectives to acceptable levels.

  • Principle 10 - Design Control Activities
    • Attributes (10.01, 10.02, 10.03, 10.04, 10.05, 10.06, 10.07, 10.08, 10.09, 10.10, 10.11, 10.12, 10.13, 10.14, 10.15, 10.16, 10.17, 10.18, 10.19, 10.20, 10.21, 10.22, 10.23)
  • Principle 11 - Design General Control Activities over Information
    • Attributes (11.01, 11.02, 11.03, 11.04, 11.05, 11.06, 11.07, 11.08, 11.09, 11.10, 11.11, 11.12, 11.13, 11.14, 11.15, 11.16, 11.17)
  • Principle 12 - Implement Control Activities
    • Attributes (12.01, 12.02, 12.03, 12.04, 12.05)
Information and Communication

Component: Information and Communication - The quality information management and other personnel communicate and use to support the internal control system.

  • Principle 13 - Use Quality Information
    • Attributes (13.01, 13.02, 13.03, 13.04, 13.05, 13.06, 13.07)
  • Principle 14 - Communicate Internally
    • Attributes (14.01, 14.02, 14.03, 14.04, 14.05, 14.06, 14.07, 14.08)
  • Principle 15 - Communicate Externally
    • Attributes (15.01, 15.02, 15.03, 15.04, 15.05, 15.06, 15.07, 15.08, 15.09)
Monitoring

Component: Monitoring - Activities management establishes and operates to assess the quality of performance over time and promptly resolve the findings of audits and other reviews.

  • Principle 16 - Perform Monitoring Activities
    • Attributes (16.01, 16.02, 16.03, 16.04, 16.05, 16.06, 16.07, 16.08, 16.09, 16.10)
  • Principle 17 - Evaluate Issues and Remediate Deficiencies
    • Attributes (17.01, 17.02, 17.03, 17.04, 17.05, 17.06, 17.07, 17.08)

Index of Attributes

See The Story for the chronological narrative that provides context for these gaps.

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