Oxnard-- The city council, Tuesday, December 21, approved the proposed council policy for Internal Controls Integrated Framework related to monitoring activities within internal controls.
SENIOR Manager for Internal Controls and Acting Controlller Jennifer Hiraoka presented the item and said it’s the final remaining policy that needs to be adopted associated with the city’s Internal Control Integrated Framework (ICIF).
“In September 2020, the city adopted four policies and recognized that we already have one policy in place that established the control environment for the ICIF,” she said. “In January 2021, the city adopted a policy to establish the city council’s risk assessment responsibilities as they relate to internal controls. In March 2021, the city adopted a policy to establish control activities. Most recently, in June 2021, the city adopted a policy to establish transparent and complete information.”
She said the policy, Finance Policy 1.08, creates a monitoring system.
“This policy reaffirms the city council’s creation of a monitoring system to provide the community, city council, employees, and other stakeholders reasonable assurance that the city is adhering to the Internal Control Integrated Framework principles and is achieving operating, reporting, and compliance objectives,” she said. “This policy requires a minimum of annual…
