2.03

Control Environment

Principle 2 - Exercise Oversight Responsibility

Attribute 2.03 - When the oversight structure of an entity is led by senior management, senior management may distinguish itself from divisional or functional management by establishing an oversight body. An oversight body oversees the entity's operations; provides constructive criticism to management; and where appropriate, makes oversight decisions so that the entity achieves its objectives in alignment with its integrity and ethical values. Members of an oversight body review management's activities, present alternative views, and act when faced with actual or suspected wrongdoing.

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