What are some of the resources the Dept of Finance & Management provides to help departments with their internal control system?
To assist departments with developing and maintaining effective internal control systems, the Dept of Finance & Management: • Has published Internal Control Standards: A Guide for Managers to assist managerial employees in fulfilling their responsibilities relating to internal controls. • Issues “best practices” documents for key financial processes to provide departments with proven methodologies for consistently and effectively achieving a business objective. • Performs operational reviews to provide departments with independent and objective resources to help evaluate the effectiveness and efficiency of a process. • Administers an annual Self-Assessment of Internal Control questionnaire to provide departments with a tool to verify and document their internal controls. • Performs policy research and development to promote sound and prudent fiscal management of the state’s resources. • Publishes a quarterly newsletter to provide departments with articles on good business practices, in
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