Download - Internal Control System Services Bethesda MD
Internal Controls System for BusinessesInternal Controls have positive & necessary place
within the Businesses
Internal controls are methods adopted in a business to - Ensure financial information is accurate & reliable Ensure business assets in safeguards Maintain the accountability for assets, liabilities, revenues &
expenditures. Review the every business operations Appropriate supervision of staff Ensuring correct training for stafff has been providedGood internal help you manage resources and make sure operations are effecient and effective.
Internal Controls Objectives
Internal Control Procedure
Poor Internal Controls
Fraud - Everday million dollors lost due to fraud committed by individual or staff.
Lack of appropriate training & guidance for employees to perform their duty.
Poor Judgement in descision making by inexperinced staff.
Management overriding controls Inefficient use of resources, high
rates of product errors, carelessness & mistakes with ineffective management.
Good Internal Controls The existence of an internal control act as restraint for
those considering Fraud & will be detected. Give comforts to employee protection with perfect
guidance if they acted as prescribed manner. Good internal control minimise the errors and save lots of
money. Determine the accountability of staff for their actions. Help new employees to perform their duties or job with
right ways. Help to promote the efficient use of the business
resources
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