Entity-level controls are foundational to a company’s overall control environment, but they carry significant risks if not properly designed or implemented. One key risk is the potential for management override, where senior leaders bypass established controls, undermining the integrity of financial reporting and compliance efforts. Additionally, weak entity-level controls can result in an ineffective tone at the top, leading to a culture where ethical lapses and non-compliance become more likely. Inadequate risk assessments, insufficient oversight by the board or audit committee, and lack of clear policies and procedures can further expose the organization to fraud, regulatory penalties and reputational damage.

To address these risks, companies should prioritize the establishment of a strong ethical culture and set clear expectations from leadership regarding integrity and compliance. Regular evaluations of the control environment, including independent assessments and robust internal audit functions, are essential to identify and remediate weaknesses. Clear communication channels, ongoing training and transparent reporting structures help reinforce accountability and support effective oversight by governance bodies. By continuously monitoring and updating entity-level controls in response to changes in business operations and the regulatory landscape, organizations can mitigate risks and foster a resilient, well-controlled environment.

1. Entity-Level Controls Assessment Report

Enhance your understanding of an entity-level control assessment and its impact on strengthening internal control frameworks.

2. Entity-Level Controls Audit Work Program

Evaluate the entity-level controls within your organization to foster a robust control environment that upholds integrity, ethical values and management's commitment to competence. 

3. Monitoring Entity-Level Controls Audit Work Program

Drive accountability and transparency with our audit program for monitoring and improving entity-level controls.

4. Entity-Level Controls Fraud Questionnaire

Discover effective entity-level controls examples to mitigate fraud risks and strengthen your internal controls.

5. Entity-Level Controls Risk Assessment Questionnaire

Document control attributes and test procedures with our entity-level controls questionnaire, covering COSO elements and control objectives.

6. Entity-Level Controls Monitoring Questionnaire

Use this questionnaire as a guide to documenting entity-level controls and their COSO attributes, related test procedures, management's action plan, and much more.

7. Entity-Level Controls Information and Communication Questionnaire

Utilize this tool to assess and enhance your organization's communication and information management processes, ensuring that relevant data is effectively captured and communicated.

8. Entity-Level Controls Memo

Systematically review, document and verify the presence of entity-level controls, ensuring compliance and effective internal governance.

9. Entity-Level Risk Assessment Audit Report

Strengthen your organization’s compliance and risk management by uncovering gaps, implementing expert recommendations, and driving effective internal control improvements.

10. Entity-Level Fraud Risk Assessment Process Report

Discover the process a company undertakes to satisfy the requirements of evaluating fraud risks that pertain to internal control over financial reporting.