Objectives Of The Internal Control System

• Ensuring activities are effective and efficient.

• Reliability of Financial Reports

• Compliance with current legislation

• Protection of assets

• The effectiveness and efficiency of activities are related to the organization's fundamental operational objectives, such as its level of achievement of goals, performance, and cost-benefit structure.

• The reliability of financial reports includes issues such as the clear and understandable recording and publication of financial data, and easy access to that data.

• Compliance with current legislation includes the work that needs to be done to ensure that the activities carried out by the institution comply with legal regulations.

• Asset protection involves securing all assets owned by the institution.

Internal Control System Homepage