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3 <br />2023-2024 San Mateo County Civil Grand Jury <br />Entity <br />An Entity for this report is San Mateo County, Cities, Special Districts, Joint Power Authorities, <br />or Schools. <br />External Auditor <br />An external auditor is a public accountant who conducts audits, reviews, and other work for its <br />clients. An external auditor is independent, and so is in a good position to make an impartial <br />evaluation of the financial statements and systems of internal controls of those clients. <br />Green Book <br />Standards for internal control in the Federal Government issued by the General Accounting <br />Office of the U.S. Government. <br />Internal Auditor <br />An internal auditor is responsible for reviewing a company’s processes, identifying anomalies, <br />and reporting any issues found to management. An internal auditor is an employee of a company, <br />so is not independent of the company. <br />Internal Controls <br />A process effected by those charged with governance, management, and other personnel that is <br />designed to provide reasonable assurance about the achievement of the entity’s objectives with <br />regard to the reliability of financial reporting, effectiveness and efficiency of operations, and <br />compliance with applicable laws and regulations. Internal control over safeguarding of assets <br />against unauthorized acquisition, use or disposition may include controls relating to financial <br />reporting and operations objectives. <br />Management <br />Management consists of those individuals directly responsible for all activities of an entity, <br />including design, implementation and operation of an internal control system. <br />Oversight Body <br />The oversight body is the group responsible for overseeing the strategic direction of the entity <br />and obligations related to the accountability of the entity, including management’s design, <br />implementation and operation of an internal control system. The oversight body may include <br />elected or appointed officials and employees of the Entity. <br /> <br />BACKGROUND <br />Internal controls help an entity’s management achieve its objectives. Also, internal controls help <br />an entity run its operations efficiently and effectively, report reliable information about its <br />operations and comply with applicable laws and regulations. <br />The need for internal controls applies to all entities, regardless of size. Large complex entities <br />have different risk profiles than small, less-complex entities. All entities seek to control risk <br />appropriate for its operations, designing and implementing internal controls for its own particular <br />risk profile. Even small, less-complex entities face risks that demand related internal controls. <br />6.C. - Page 7 of 22 <br />86