As defined by the State of New York, Internal Control is a process, effected by an entity’s board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance.
About Internal Controls
Internal controls help an organization to achieve its objectives. They are the checks and balances that support the mission.
Internal controls consist of all measures taken by the College to:
- Promote orderly, efficient, and effective operations consistent with the school’s mission.
- Safeguard resources against loss due to waste, mismanagement, errors, abuse, and fraud.
- Ensure compliance with SUNY, New York State, and Federal laws and regulations.
- Provide reliable financial and management data which is accurately presented in timely reports.
Internal Control is…
- A process. It is a means to an end, not an end in itself.
- Effected by people. It is not merely policies and procedures, but the actions of every person at all levels of the institution.
- Geared toward the achievement of objectives.