An ICS (= InControlStatement) is a declaration in which the management board takes responsibility for the quality of internal control. This means that the processes aimed at achieving the organization's objectives are effectively managed, or "In Control". It is a component of overall SME governance, representing good management practices for small and medium-sized enterprises.
With an ICR (In Control Rating) of 1 or 2, you as a manager declare that the risk management and control system is adequately set up and has functioned effectively (effective operation must be demonstrable). With an ICR of 4 or 5, this cannot be assured, and with an ICR of 3, it depends on the specific situation and associated performance scores of the ICR objectives.
To achieve an ICR 1, your organization must score an average of higher than 9 across all objectives. An ICR 1 indicates that your organization is nearing perfection and is therefore minimally vulnerable. In other words, your organization is optimally In Control.
To achieve an ICR 2, your organization must score an average of higher than 8 across all objectives. An ICR 2 indicates that your organization is sufficiently to well-organized and is therefore less vulnerable. In other words, your organization is sufficiently to well In Control.
Sustainable success through manageable and controlled growth
The ICR online business software helps entrepreneurs and organizations find balance and peace, through manageable and controlled growth, with the goal of a healthy organization and sustainable success. We do this through the all-encompassing ICR cycle.
Choose our successful approach and start your process to go from ambition to result with the ICR Ambition Refresher!
The comprehensive ICR cycle
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