FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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What are internal controls?

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Step 1

Internal Control: Internal control refers to the plan of a company. Implementation of an effective internal control system is necessary for the success of any business enterprise. Thus, internal control helps:

  • To promote operational efficiency.
  • To encourage company policies and procedures regarding adherence.
  • To minimize the errors and theft happening in the company.
  • To enhance the accuracy and reliability of the accounting data.

 

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