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Internal Control – good practices
Helmut Berger April 24th 2012
page 2 Helmut Berger 24.04.2012
Examples of Risk Management and Internal Control
* According to a recommendation of the Austrian Court of Audit a comprehensive system of risk management and internal control was established including also the statistical departments
* With the support of an external consultant a process was launched to identify the major risks and to establish adequate risk reduction measures based on a standardised system of risk management
* In workshops of management major risks were identified and assessed
* Subsequently relevant procedures were analysed
* Included was not only financial management but most of the other business functions (e.g. Quality management and personnel)
National Statistic Institute (Statistik Austria)
page 3 Helmut Berger 24.04.2012
Examples of Risk Management and Internal Control
Risk identification and assessment in four categories of processes
page 4 Helmut Berger 24.04.2012
Examples of Risk Management and Internal Control Assessing the financial amount at risk (e.g. key personnel)
page 5 Helmut Berger 24.04.2012
Examples of Risk Management and Internal Control
Identifying measures and responsiblities
page 6 Helmut Berger 24.04.2012
Examples of Risk Management and Internal Control Reporting in the financial statement
page 7 Helmut Berger 24.04.2012
Examples of Risk Management and Internal Control
page 8 Helmut Berger 24.04.2012
Examples of Risk Management and Internal Control
* New internal regulation obliges all heads of departments to establish quality management, internal control and risk management
* Implementation with strong support and consulting activities of internal audit
* Support by proving 114 questions and statements on internal control
* Description of control mechanisms, control measures and persons responsible by heads of departments
* Check by internal audit in respect of consistency and quality * Comprehensive written documentation of controls executed * Obligation to constant adaption to new requirements
Internal Control in the municipality of Vienna
page 9 Helmut Berger 24.04.2012
Examples of Risk Management and Internal Control
New budget regulation requiring internal control
Budget Law 2013 * The Minister of Finance has to ensure that a system of
internal control is established in federal budget management and budget execution
* Federal Accounting Agency has to control correctness of budget management and budget execution by means of a system of internal control established by the Minister of Finance and by own organisational measures
page 10 Helmut Berger 24.04.2012
Examples of Risk Management and Internal Control
Internal Control – good practices
Helmut Berger April 24th 2012
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