4. Information and Communications

Communication is the exchange of useful information between and among people at all levels, both vertically and horizontally and, between organizations to support decisions and coordinate activities. Information should be communicated to management and other employees who need it in a form and within a time frame that helps them to carry out their responsibilities. Communication with customers, suppliers, regulators and other outside parties is also essential to effective internal control. The information is the basis for the communication needed for the efficient implementation of the assigned tasks.