Risky Business, part 4: Internal Control Resources

[NOTE: this post is the last of a four-part series]

The three previous Risky Business blog posts

defined what is meant by Internal Control systems,
showed how such systems define and mitigate organizational risks as part of a strategic planning program,
outlined the specific features of a comprehensive Internal Control system, and
gave a detailed example of Financial Internal Controls.

I hope these posts have heightened awareness of the critical importance of Internal Control, and further, motivated readers to reexamine and improve what is being done in their own organizations.

Here are a few resources that can be used to understand and implement sound Internal Control systems:

https://en.wikipedia.org/wiki/Internal_control
GAO Standards for Internal Control in the Federal Government – Publication GAO-14-704G (2014) https://www.gao.gov/products/GAO-14-704G
Management Oversight and Stewardship Handbook, Administrative Office of the United States Courts, (2003) – copy available upon request
Example of a CPA firm’s Internal Control checklist: https://doeren.com/wp-content/uploads/2016/06/Internal-Controls-Checklist.pdf
Financial Internal Controls Manual from a U.S. federal court (2018) – copy available upon request
Internal Control of Court-Collected Funds – Robert Tobin, National Center for State Courts publication R-165 (1995)

This definition of Internal Control is worth repeating:

Internal controls are systematic safeguards that are a continuous built-in component of operations, reviews, and reports. Collectively, internal controls are the policies, actions and activities that provide reasonable assurance that assets and resources are protected from loss, waste or abuse; operations are efficient and effective; financial reports are accurate and reliable; and business practices are in compliance with applicable laws, regulations, and judiciary policies.[i]

Every organization has risks – the challenge is to manage these risks and ensure that you are doing everything you can to reduce them to an acceptable level (ideally, to eliminate them).

Comments and suggestions for additional resources are welcome!

[i] Management Oversight and Stewardship Handbook, Administrative Office of the United States Courts, p.7 (2003).

Published by Norman Meyer (He-Him)

After 38 years as a trial court administrator in the state and federal courts in the U.S., Norman continues to write, teach, and otherwise participate in judicial administration activities world-wide. In particular, he is active in the International Association for Court Administration (IACA) as a past Regional Vice President and Advisory Board member, in the National Association for Court Management (NACM) as a Past President (having received NACM's Award of Merit), and as an Associate of the Justice Speakers Institute. Norman has extensive experience working on international Rule of Law projects, particularly in the Russian Federation, Serbia, Ukraine, Moldova, and Albania. Norman is a Phi Beta Kappa graduate of the University of New Mexico (Political Science and Russian Studies), and he received the Master of Science in Judicial Administration from the University of Denver College of Law. View all posts by Norman Meyer (He-Him)