Minnesota Management & Budget Statewide Operating Policy Minnesota Management and Budget, Internal Control & Accountability Number 0102-01 Issued: July 1, 2011 Revised: April 8, 2015 Internal Control System Objective To create an internal control system that helps ensure the state’s ability to meet its mission, goals and objectives, and ensures compliance with (https://www.revisor.mn.gov/statutes/?id=16A.057). Internal control includes the plans, methods, policies, and procedures used to further the agency’s mission, strategic plans, goals and objectives. An effective system of internal controls provides reasonable assurance that agencies will achieve their objectives, increases the state’s operational effectiveness and efficiency, safeguards public funds, ensures compliance, and minimizes fraud, waste, and abuse. Policy General Every State of Minnesota employee is responsible for internal controls, including: Performing assigned internal control activities; Complying with all policies and procedures, laws, rules, and regulations relating to their jobs; and, Reporting significant internal control deficiencies to their supervisors and/or through designated agency communication channels. Each executive branch state agency head is responsible for designing, implementing, and maintaining an effective system of internal controls within his or her respective organization. The internal control system must: Safeguard public funds and assets, and minimize incidences of fraud, waste, and abuse; Ensure programs are administered in compliance with federal and state laws and rules; Provide for risk assessment and periodic evaluation of control activities; Maintain documentation of existing control activities; and Satisfy the Minnesota Management & Budget (MMB) commissioner that the internal control system is adequately designed, properly implemented, and functioning effectively. The MMB commissioner, through the Internal Control and Accountability Unit, is responsible for coordinating the design, implementation, and maintenance of an effective system of internal controls across the executive branch (excluding the Minnesota State Colleges and Universities System). This responsibility includes: Establishing internal control standards and policies; Monitoring Office of Legislative Auditor (OLA) audits; Preparing biennial reports of the status of internal controls and internal auditing within the executive agencies; Providing internal control-related training and assistance, internal audit resource sharing; and
Minnesota Management & Budget Statewide Operating Policy Minnesota Management and Budget, Internal Control & Accountability Number 0102-01 Issued: July 1, 2011 Revised: April 8, 2015 Internal Control System Objective To create an internal control system that helps ensure the state’s ability to meet its mission, goals and objectives, and ensures compliance with (https://www.revisor.mn.gov/statutes/?id=16A.057). Internal control includes the plans, methods, policies, and procedures used to further the agency’s mission, strategic plans, goals and objectives. An effective system of internal controls provides reasonable assurance that agencies will achieve their objectives, increases the state’s operational effectiveness and efficiency, safeguards public funds, ensures compliance, and minimizes fraud, waste, and abuse. Policy General Every State of Minnesota employee is responsible for internal controls, including: Performing assigned internal control activities; Complying with all policies and procedures, laws, rules, and regulations relating to their jobs; and, Reporting significant internal control deficiencies to their supervisors and/or through designated agency communication channels. Each executive branch state agency head is responsible for designing, implementing, and maintaining an effective system of internal controls within his or her respective organization. The internal control system must: Safeguard public funds and assets, and minimize incidences of fraud, waste, and abuse; Ensure programs are administered in compliance with federal and state laws and rules; Provide for risk assessment and periodic evaluation of control activities; Maintain documentation of existing control activities; and Satisfy the Minnesota Management & Budget (MMB) commissioner that the internal control system is adequately designed, properly implemented, and functioning effectively. The MMB commissioner, through the Internal Control and Accountability Unit, is responsible for coordinating the design, implementation, and maintenance of an effective system of internal controls across the executive branch (excluding the Minnesota State Colleges and Universities System). This responsibility includes: Establishing internal control standards and policies; Monitoring Office of Legislative Auditor (OLA) audits; Preparing biennial reports of the status of internal controls and internal auditing within the executive agencies; Providing internal control-related training and assistance, internal audit resource sharing; and
0102-01-internal-control-policy.docx