What are the basic premises of Internal Control?
Internal controls impact every aspect of an organization: all of its people, processes and physical structures. It is a basic element that permeates an organization – not a feature that is added on. It incorporates the qualities of good management. Internal controls are dependent upon people, and will succeed or fail depending on the attention people give to it. Internal controls are effective when all people and the surrounding environment work together and provide a level of comfort to an organization; controls do not guarantee success. Internal controls help an organization achieve its mission.
