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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