Internal Audit helps CCC accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
The scope of work of the internal audit activity is to determine whether CCC's network of risk management, control, and governance processes, as designed and represented by management, is adequate and functioning in a manner to help ensure:
- Risks are appropriately identified and managed;
- Interaction with the various governance groups occurs as needed;
- Significant financial, managerial, and operating information is accurate, reliable, and timely;
- Employees’ actions are in compliance with policies, standards, procedures and applicable laws and regulations;
- Resources are acquired economically, used efficiently, and adequately protected;
- Programs, plans and objectives are achieved;
- Programs and processes are consistent with industry best practices, using the best public and private examples as benchmarks;
- Quality and continuous improvement are fostered in CCC’s control process;
- Significant legislative or regulatory issues impacting the organization are recognized and addressed appropriately;
- Existing policies and procedures are appropriate and updated accordingly; and
- Programs, operations or processes are reviewed at the request of management.