Have a proficient internal audit staff member perform the assessment and disclose the impairment in the audit report and to the board.

Have a regulatory compliance staff member perform a self-assessment, to be reviewed by a proficient internal auditor.

Have a proficient internal audit staff member perform the audit and report the results of the assessment directly to senior management and the board.

Contract with a third-party entity or external auditor to complete the assessment and report the results to senior management and the board.