Annual Report 2005 - The National Disability Authority

National Disability Authority
Statement on the System of Internal
Financial Control
For the year ended 31 December 2005
The Authority is responsible for the systems of internal financial control in the
Authority and for putting in place processes and procedures for the purpose of
ensuring that the systems are effective.
The systems can provide only reasonable, and not absolute, assurance that the assets
are safeguarded, transactions authorised and properly recorded, and that material
errors or irregularities are either prevented or would be detected in a timely manner.
The Authority has taken steps to ensure an appropriate control environment is in
place by:
• Establishing formal procedures through various committee functions to monitor
the activities and safeguard the assets of the organisation
• Clearly defining and documenting management responsibilities and powers
• Developing a strong culture of accountability across all levels of the organisation.
The Authority has also established processes to identify and evaluate
business risks. This is achieved in a numbers of ways including:
• Identifying the nature, extent and financial implications of risks facing the National
Disability Authority
• Assessing the likelihood of identified risks occurring. The NDA has prepared
a risk register encompassing strategic, operational (to include information
technology), financial, reputational /compliance risks
• Assessing the National Disability Authority’s ability to manage and mitigate the
risks that do occur
• Working closely with Government and various agencies and institutions to
ensure that there is a clear understanding of the National Disability Authority’s
goals and support for the Authority’s strategies to achieve those goals
• Carrying out regular reviews of strategic plans both short and long term and
evaluating the risks to bringing those plans to fruition
• Setting annual and longer term targets for each areas of our business followed by
the regular reporting on the results achieved
• Establishing and enforcing extensive standard procedures and provision under
which financial assistance may be made available to projects, including provisions
requiring repayment if the project does not fulfil commitments made by
the promoter.
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The system of internal financial control is based on a framework of regular
management information, administrative procedures including segregation of duties,
and a system of delegation and accountability. In particular it includes: