Why is it critical to assist management with evaluations of ongoing internal controls?

Supporting effective governance and decision-making is essential because internal controls serve as a backbone for an organization's risk management strategy. By assisting management with ongoing evaluations of these controls, you contribute to creating a framework that allows for informed decisions regarding risk exposure and organizational objectives. This support helps ensure that the governance structure is able to monitor, assess, and respond to risks effectively, promoting accountability and transparency throughout the organization.

When management has accurate and timely insights into the effectiveness of internal controls, they can make decisions that align with the organization's risk appetite and strategic goals. This leads to more robust organizational resilience and prepares the organization to respond proactively to potential issues, ensuring the long-term sustainability and success of the enterprise. Evaluating controls also allows for continuous improvement, which is critical in the face of changing operational, regulatory, and competitive landscapes.