7.3 - Internal Control Assessment Checklist

A pass-through entity must ensure it has internal controls in place to support its subrecipient monitoring objectives. Therefore, it may want to ask itself the following questions, which are established withing guidance in Government Accountability Office’s (GAO) Standards for Internal Control in the Federal Government, also known as the Green Book, and the Committee of Sponsoring Organizations of the Treadway Commission’s (COSO) Internal Control — Integrated Framework, also known as the COSO Framework: Control Environment Does the “tone at the top” demonstrate management’s commitment to monitoring subrecipients? Is management intolerant of overriding established… Read More