The Departmental Risk Management Review validates, through the examination of transactions, supporting referenced documentation and query results, that the department's internal controls are based on an agency-wide comprehensive risk assessment, and provide reasonable assurance that departments are adhering to Massachusetts State Finance Law and the regulations, policies and procedures issued by the Office of the Comptroller. This includes a comprehensive review of the department's Internal Control Plan. The departmental review has seven phases: (1) preparation and desk review, (2) entrance meeting, (3) site visit, (4) analysis of results, (5) report writing, (6) exit meeting and (7) follow up.
The Issue-Specific Review focuses on a fiscal transaction or process across all departments in the Commonwealth. This type of review assists in identifying anomalies for follow up and reporting.