(A) The town adopts and directs the minimum level of internal control standards and internal control procedures for an internal control system, which includes five standards to promote governmental accountability and transparency as described in the “Uniform Internal Control Standards for Indiana Political Subdivisions” guidance document from the state’s Board of Accounts, dated September 2015 and as thereafter modified.
(B) The internal control standards are as follows:
(1) Control environment;
(2) Risk assessment;
(3) Control activities;
(4) Information and communication; and
(5) Monitoring.
(Ord. 2016-4, passed 5-17-2016)