Determine the key points in the turnbull report, Financial Management

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Key points in the Turnbull Report:

  • Have a defined process for review of effectiveness of internal control.
  • Review regular reports on internal control.
  • Consider key risks and how they have been managed.
  • Check adequacy of action taken to remedy weaknesses and incidents.
  • Consider adequacy of monitoring.
  • Conduct an annual assessment of risks and effectiveness of internal control.
  • Make a statement on this processin annual report.

 

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