General standards

• Specific control objectives are to be set for each activity of the organisation, and are to be appropriate, comprehensive, and reasonable and integrated into the organisation’s overall objectives.
• Managers and employees are to maintain a supportive attitude to the standards at all times, and are to have the integrity and sufficient competence to meet the standards.
• The system provides reasonable assurance that the objectives of an internal control system will be met.
• Managers are to monitor their operations continually and take prompt remedial action where necessary.

Detailed standards

• Full documentation of all transactions and of the control system itself is to be provided.
• Transactions and events should be promptly and properly recorded.
• Execution of transactions and events should be properly authorised.
• Key responsibilities at different stages of a transaction should be divided among individuals.
• Competent supervision is to be provided to ensure that control objectives are being achieved.
• Access to resources and records is to be limited to authorised individuals who are accountable for their custody or use.

Source:

INTOSAI (1992), Guidelines for Internal Control Standards for the Public Sector, INTOSAI General Secretariat, Vienna

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