What is internal control or “internal controls?
Internal control is a process established by management (not Internal Audit) designed to provide reasonable assurance that the organization achieves its objectives regarding effectiveness and efficiency of their operations; reliability of financial reporting; and compliance with applicable laws and regulations.
Related Questions
- Whats the difference between disclosure controls and procedures and internal control over financial reporting? Which controls do we have to certify?
- What does an Internal Control Assessment or Review of Internal Controls and Risk Management report look like?
- What is internal control or "internal controls?
