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Home > Consulting Services > Integrated governance > Entity Level Assessment |
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Entity Level Assessment |
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Organizations are grappling with understanding how best to utilize these risks so that they are better able to manage their internal controls and interactions for a better outcome.
Are there policies, procedures and effective processes for hiring, compensating, promoting, training and terminating employees? Are employees made aware of their roles, responsibilities, authorities and performance expectations? Are everyone’s control-related responsibilities clearly articulated? Are employees accountable for results and are performance expectations reinforced with appropriate performance measures?
Are employee retention and promotion criteria clearly defined, and is the performance evaluation process effective? Does management take appropriate remedial action in response to departures from approved process and procedures? Is the established code of conduct reinforced when warranted? Are the background and experience of prospective employees checked and references obtained?
Entity Level Assessment would encompass the following five COSO Components:
- CONTROL ENVIRONMENT
- RISK ASSESSMENT
- INFORMATION & COMMUNICATION
- CONTROL ACTIVITIES
- MONITORING
Our team of exerts work with the organizations to identify what the desired outcomes are. We then work with various groups within an organizations to see how to enforce and assess the entity level criticalities for the desired results. Our professionals work across the organization to identify the entity level controls, the environments, assess the risk, seek information and see how the internal communication channels function. We also understand the constant monitoring for course correction is also important. |
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