definition IC/RM

Seite 1

The RM/IC systems encompass the policies, culture, organization, behaviors, processes,systems and other aspects of a company that, taken together:

Facilitate its effective and efficient operation by enabling it to assess current and emerging risks.

Help to reduce the likelihood and impact of poor judgement in decision making; risk-taking that exceeds the levels agreed by the board.

Help ensure the quality of internal and external reporting.

Help ensure compliance with applicable laws and regulations, and also with internal policies with respect to the conduct of business。

Examples of internal controls: