2.09

Control Environment

Principle 2 - Exercise Oversight Responsibility

Attribute 2.09 -

The oversight body oversees management's design, implementation, and operation of the entity's internal control system. The oversight body's responsibilities for the entity's internal control system include the following:

• Control Environment - Establish integrity and ethical values, develop expectations of competence, and maintain accountability to all members of the oversight body and key stakeholders.
• Risk Assessment - Oversee management's assessment of risks to achieving objectives, including risks related to fraud, improper payments, information security, identified and potential changes, and management override of internal control.
• Control Activities - Provide oversight to management in the development and performance of control activities.
• Information and Communication - Analyze and discuss information relating to the entity's achievement of objectives.
• Monitoring - Scrutinize the nature and scope of management's monitoring activities as well as its evaluation and remediation of identified deficiencies.

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