State of Alaska

Department of Administration

Division of Finance

Alaska Department of Administration, Division of Finance
Administration >  Division of Finance >  Internal Controls

Report Internal Control Issues to:

Your management team,

Lisa Pusich,
Deputy Director
Ph: (907) 465-5616
Fax: (907) 465-2169


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Internal Controls

Trust, but verify – Ronald Reagan

By failing to prepare, you are preparing to fail. – Benjamin Franklin

Introduction

The purpose of this webpage is to provide employees at all levels of the State with an understanding of what are internal controls, who is responsible for implementing them, and additional resources for obtaining more information.

What is Internal Control?

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines internal controls as:

A process, effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:

  • Effectiveness and efficiency of operations
  • Reliability of reporting
  • Compliance with applicable laws and regulations

Management's Commitment

The State of Alaska's senior management –

  • Supports a robust system of internal controls
  • Is committed to increasing awareness and understanding of internal controls policies and systems
  • Strongly encourages adherence to internal controls processes

Responsibility for Internal Control

Although management is responsible for establishing and the performance of the internal control system, everyone in the organization has some responsibility for internal control.