R277-114-2. Definitions

(1) "Internal control system" means the actions the Superintendent develops and establishes through policies, procedures, and rule to mitigate risks to achieving the Board's objectives to acceptable levels. (2) "Monitor" means activities established by the Superintendent to monitor the internal control system, LEA compliance, and evaluate the results. (3) "Provision" means a public education requirement or set of requirements in: (a) federal law; (b) state law; (c) administrative rule; or (d) board rule. (3) "Recipient" means an LEA, school, or subrecipient. (4) "Risk" means the possibility that an event will occur and adversely affect or prevent the achievement of, and compliance with, a provision. (5) "Risk Assessment" means the systematic process of identifying, analyzing, and responding to internal and external risks related to a provision.