§ 2931 — Internal control responsibilities

§ 2931. Internal control responsibilities. The governing board of each\ncovered authority shall: 1. establish and maintain for the authority\nguidelines for a system of internal control that are in accordance with\nthis article and internal control standards;\n 2. establish and maintain for the authority a system of internal\ncontrol and a program of internal control review. The program of\ninternal review shall be designed to identify internal control\nweaknesses, identify actions that are needed to correct these\nweaknesses, monitor the implementation of necessary corrective actions\nand periodically assess the adequacy of the authority's ongoing internal\ncontrols;\n 3. make available to each member, officer and employee a clear and\nconcise statement of the generally applicable managerial policies and\nstandards with which he or she is expected to comply. Such statement\nshall emphasize the importance of effective internal control to the\nauthority and the responsibility of each member, officer and employee\nfor effective internal control;\n 4. designate an internal control officer, who shall report to the head\nof the authority, to implement and review the internal control\nresponsibilities established pursuant to this section; and\n 5. implement education and training efforts to ensure that members,\nofficers and employees have achieved adequate awareness and\nunderstanding of internal control standards and, as appropriate,\nevaluation techniques.\n