ABSTRACT
This chapter presents a simple, logical, common sense way of looking at internal control and risk management that integrates them conceptually and so opens the door to integrating them in practical ways too. The literature on risk and control is littered with diagrams of cubes, circles, triangles, pyramids, trees, and so on, but of course none of these exist physically. The way controls are planned is particularly interesting and it is through the idea of dynamic generation that one can begin to integrate internal control and risk management into one. A well-designed control system should be self-sustaining generating the actions that will keep it going and keep it up to date. A complementary idea that helps to highlight many of the more interesting but less familiar controls is the idea of intelligent internal controls. Specialist controls designers are still rare individuals but there are more of them now than ever before.
