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ANNUAL REPORT 2019ContentLetter to the shareholders4Report of the Supervisory Board6Group Management Report8| Principles of the Group9| Economic Report11| Supplementary Report14| Forecast, opportunities

How to fill out assessment of internal control

How to fill out assessment of internal control

1. Identify and understand the key controls within the organization.
2. Determine the scope of the assessment, including which processes and systems will be evaluated.
3. Gather documentation and evidence to support the assessment, such as policies, procedures, and data.
4. Assess the design effectiveness of the controls, ensuring they are properly designed to achieve their intended objectives.
5. Test the operating effectiveness of the controls to ensure they are actually functioning as intended.
6. Document the results of the assessment, including any deficiencies or areas for improvement.
7. Communicate the findings to relevant stakeholders and develop a plan to address any identified issues.

Who needs assessment of internal control?

1. Companies seeking to comply with regulatory requirements
2. Organizations looking to improve their internal processes and controls
3. Auditors performing an audit of the organization's financial statements
4. Management wanting to assess and mitigate risks within the organization

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What is assessment of internal control?

An assessment of internal control is a systematic evaluation of a company's procedures and policies to ensure the effectiveness and efficiency of risk management, control processes, and governance.

Who is required to file assessment of internal control?

Publicly traded companies are required to file an assessment of internal control as part of their compliance with the Sarbanes-Oxley Act.

How to fill out assessment of internal control?

To fill out an assessment of internal control, a company must evaluate its internal control systems, document the processes, identify any deficiencies, and report on the effectiveness of controls in place.

What is the purpose of assessment of internal control?

The purpose of the assessment is to ensure that a company has adequate controls in place to prevent errors, fraud, and to enhance the reliability of financial reporting.

What information must be reported on assessment of internal control?

The report must include a description of the internal controls in place, the effectiveness of these controls, any material weaknesses identified, and any corrective actions taken or planned.