Internal Control Framework

Internal Control Framework October 2019 contents 1 Introduction 1 2 What is an Internal Control Framework 1 3 Why have an effective Internal Control Framework ? 1 4 Three lines of defence 2 5 Responsibilities 3 6 Components of Internal Control 3 7 Limitations of Internal Control 7 8 Annual CFO certification and management Control questionnaire 8 9 Contact Point 8 10 Review 8 Our insights inform and challenge government to improve outcomes for citizens D1904341 Internal Control Framework October 2019 1 1 Introduction In 2013 the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released its revised Internal Control Integrated Framework . It is recognised as a leading Framework for designing, implementing, and conducting Internal Control and assessing the effectiveness of Internal Control .

The Chief Finance Officer (CFO) is responsible for conducting the annual management internal control questionnaire as part of the annual CFO certification as to the effectiveness of the system of internal control over financial information. The Executive Manager, Governance, on behalf of the Chief Risk Officer, prepares status reports

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