Internal Controls Services
Internal Controls Services (ICS) provides audit, investigation and advisory services
to departments and functions across Dartmouth College. Audit activities will be determined
by annual risk assessments and directives from Senior Management and the Audit Subcommittee
of the Board of Trustees. Advisory services will include assisting departments in
risk assessment projects, providing trainings on risks, internal controls and fraud
and conducting business process improvement reviews. Internal Controls Services will
also collaborate with departments to recommend operational standards and best practices
that will support the achievement of Dartmouth College's mission and strategic objectives.
Our Services:
- Audits & Reviews
- Other Services
- Consultation
- Fraud Investigations
- Special Projects
Please click here for links to websites of professional audit associations.
What are Internal Controls?
Internal controls are processes within the College designed to provide reasonable assurance that certain things happen the way we want them to:
- Reliability and integrity of information
- Compliance with policies, plans, procedures, laws, regulations and contracts
- Safeguarding of assets
- Effectiveness and efficiency of operations
Internal Control consists of five interrelated components as follows:
- Control Environment: Sets the foundation upon which all other components of internal control are based, and sets the tone for an educational institution. Factors include sound integrity and ethical values which are part of the College's standard of conduct
- Risk Assessment: Involves identification and analysis of risks.
- Control Activities: Control policies and procedures which help ensure achievement of the College's mission and strategic objectives.
- Information and communication: Systems that identify, capture, process and distribute information.
- Monitoring: Internal controls need to be monitored to assess the quality of performance.