PIC Approach and Methodology Diagram

A visual description of the eight steps involved in implementing the Policy on Internal Control and conducting an assessment of the status of Parks’ system of internal controls over financial reporting.

Step 1 Risk Assessment and Scoping

Step 2 Documentation of Controls

Step 3 Evaluate Design Effectiveness

Step 4 Remediate Control Design Deficiencies

Step 5 Evaluate Operating Effectiveness

Step 6 Remediate Operating Design Deficiencies

Step 7 Monitoring

Step 8 Reporting occurs throughout the implementation Steps 1 to 7.