The aim of internal control is to ensure that operational functions are effective and efficient, that internal and external reporting is reliable, and that laws and regulations are complied with. A sound system of internal control helps all parts of the organisation to reach their targets.
As part of internal control all main processes are evaluated, making sure that objectives are set for each process and that control procedures are in place in order to ensure the achievement of these objectives. The risks of each process are identified as part of the analysis, and all process descriptions are checked to ensure they are up to date.
Both the quality of the processes and the risks are estimated using a risk score matrix. The weaknesses are listed in an improvement plan, the implementation of which is regularly monitored. All processes are reviewed yearly with the process owners.