What Is An Internal Control System

Internal control   is an integrated process implemented by the organization's management and personnel, designed to provide reasonable assurance that the organization will achieve its defined goals and fulfill its mission, and affecting the entire organization.

Internal control is not limited to financial transactions and reporting; it encompasses all controls covering management, administrative processes, strategy, and other activities of the organization.

Not every organization has the same internal control system. Organizations and their controls differ according to their organizational structure, corporate culture, and management philosophy.

 

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