Quarterly Review of the Adequacy of Internal Controls

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Quarterly Review  of the  Adequacy  of  Internal  Controls

  • monitor and discuss(with management, the internal audit department(if any) and the independent auditors, the company’s internal control structure to determine whether the company’s policies are working and are responsive to the current environment;
  • evaluate weaknesses or breakdowns in the company’s internal control system, monitor control breakdowns of competitors and re-examine relevant areas within the company;
  • evaluate whether internal controls are enforced consistently, requiring management to follow the same controls as general staff;
  • evaluate the adequacy of the number of personnel devoted to internal control procedures, including whether key functions are segregated, and the quality of personnel in key internal control positions;

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