Internal Control

Internal Control

The Board of Management is responsible for the College’s system of internal control and for reviewing its effectiveness. Such a system is designed to manage rather than eliminate risk of failure to achieve College objectives, and can only provide reasonable, not absolute, assurance against misstatement or loss. The system of internal control is based on an on-going process designed to identify and prioritise the risks to the achievement of the College’s policies, aims and objectives; to evaluate the likelihood of those risks being realised and the impact should they be realised and to manage them efficiently, effectively and economically.