Internal Controls

Internal Controls is responsible for the audit process, risk identification and assessment across Dartmouth College. Our objective is to partner with administration, faculty and staff to provide the highest professional standards. Risk assessments are tools used to identify, analyze and manage risk exposure. Internal Controls collaborates with departments to develop control standards and best practices which directly support Dartmouth College's mission and strategic objectives.

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.