Roles and responsibilities in internal control

Management

The Chief Executive Officer (the top manager) of the organization has overall responsibility for designing and implementing effective internal control.

Board of Directors

Management is accountable to the board of directors, which provides governance, guidance and oversight. Effective board members are objective, capable and inquisitive. They also have a knowledge of the entity's activities and environment, and commit the time necessary to fulfill their board responsibilities.

Auditors

The internal auditors and external auditors of the organization also measure the effectiveness of internal control through their efforts. They assess whether the controls are properly designed, implemented and working effectively, and make recommendations on how to improve internal control.