Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Define the internal control ? what the internal control element ?

user-image
Question added by SHADI ZOZO SALEH IMSEEH , assistant general finance director , Zozo Imseeh Comapany
Date Posted: 2014/04/28
Vishnu Cholayil
by Vishnu Cholayil , Team Leader - Internal Audit , PKF India

Internal control, as defined in accounting and auditing, is a process for assuring achievement of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization.

Elements

Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.