What Are Objective Of Internal Control?
Internal control can be seen as the whole system of control financial and otherwise put in place by those charge with governance of any entity to ensure that the objectives of the entity is achieved in the most effective and efficient manner and secure the assets of the entity and ensure that financial reporting objective are attained. OBJECTIVES: 1. Ensure that management policies are adhere to. 2. Ensure the achievement of management objectives. 3. Ensure the effective and efficient utilisation of resources. 4. Secure the asset of the entity from theft, lost or damage. 5. Ensure the accuracy and completeness of financial records. 6. Promote orderliness in the conduct of the entity’s affair.
