Jefferson Science Associates, LLC Management Control Policy
1.
Management is charged with the responsibility for establishing a network of processes with the objective of controlling the operations of JSA in a manner that provides the JSA Board of Directors reasonable assurance that:
- Data and information published either internally or externally is accurate, reliable, and timely;
- Actions of directors, officers, and employees are in compliance with JSA policies, standards, plans and procedures, and all relevant laws and regulations;
- JSA resources (including its people, systems, data/information bases, and customer goodwill) are adequately protected;
- Resources are acquired economically and employed profitably; quality business processes and continuous improvement are emphasized;
- JSA plans, programs, goals, and objectives are achieved.
Controlling is a function of management and is an integral part of the overall process of managing operations. As such, it is the responsibility of managers at all levels of JSA to:
- Identify and evaluate the exposures to loss which relate to their particular spheres of operations;
- Specify and establish policies, plans, and operating standards, procedures, systems, and other disciplines to be used to minimize, mitigate, and/or limit the risks associated with the exposures identified;
- Establish practical controlling processes that require and encourage directors, officers, and employees to carry out their duties and responsibilities in a manner that achieves the control objectives outlined above;
- Maintain the effectiveness of the controlling processes they have established and foster continuous improvement to these processes.
2.
The internal auditing function is responsible for:
- Ascertaining that the ongoing processes for controlling operations throughout the organization are adequately designed and are functioning in an effective manner;
- Reporting to management and the JSA Finance & Audit Committee on the adequacy and effectiveness of the organization’s systems of internal control, together with ideas, counsel, and recommendations to improve the systems.
3.
The JSA Finance & Audit Committee is responsible for:
- Monitoring, overseeing, and evaluating the duties and responsibilities of management, the internal audit activity, and the external auditors as those duties and responsibilities relate to the organization’s processes for controlling its operations;
- Determining that all major issues reported by the internal auditor, the external auditor, and other outside advisors have been satisfactorily resolved;
- Reporting to the JSA Board important matters pertaining to the organization’s controlling processes.
