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Internal Control Program

Specific Standards

Documentation
Adequate records of all internal control systems, transactions and events should be maintained.

Records
All transactions and events should be recorded promptly and accurately.

Authorization
All transactions and events should be authorized and executed by persons within the scope of their authority.

Structure
Key duties and responsibilities in authorizing, processing, recording and reviewing transactions should be separated.

Supervision
Adequate supervision must be provided to ensure that internal control objectives are achieved.

Security
Access and accountability to assets and records should be limited to authorized individuals.