GOVERNMENT BUSINESS ETHICS RISK MANAGEMENT AND INTERNAL CONTROL

Provide effective oversight through election of board members; approval of major initiatives of the

board.

• Board of directors

• MANAGEMENT

• SHAREHOLDERS

• Board of Accountancy

Act as major representative of stockholders to ensure that the organization is run according to the

organization’s charter and that there is proper accountability.

• INTERNAL AUDITOR

• BOARD OF DIRECTORS

• BOARD OF ACCOUNTANCY

• EXTERNAL AUDITOR

Manage the organization effectively; provide accurate and timely reports to shareholders and other

stakeholders.

• SECURITY AND EXCHANGE COMMISSION

• MANAGEMENT

• EXTERNAL AUDITOR

• BOARD OF ACCOUNTANCY

Conduct CPA Licensure Board Examinations.

• NON-EXECUTIVE DIRECTORS

• SHAREHOLDERS

• BOARD OF DIRECTORS

• BOARD OF ACCOUNTANCY

Specify independence standards required of auditors that report on public financial statements.

• INTERNAL AUDITORS

• MANAGAMENT

• SECURITY AND EXCHANGE COMMISSION

• EXTERNAL AUDITORS

Perform audits of company financial statements to ensure that the statements are free of material

misstatements including misstatements that may be due to fraud.

• NON-EXECUTIVE DIRECTORS

• EXTERNAL AUDITOR

• INTERNAL AUDITOR

• BOARD OF DIRECTORS

Understand that his/her role is not to act as auditor, nor as a member of the management team.

Manage Crisis.

Perform other services such as tax or consulting.

Assume day-to-day responsibility for the organization’s

conformance with relevant laws and regulations and its compliance

framework.

• MANAGEMENT

• BOARD OF DIRECTORS

• EXTERNAL AUDITORS

• NON-EXECUTIVE DIRECTORS