Policies and Procedures for Internal Controls = Success!
According to the Institute of Internal Auditors (IIA), an effective system of internal controls helps ensure that our organizational processes are functioning properly, that our financial information is reliable, and that we’re in compliance with applicable regulations. Businesses primarily implement internal controls systems to protect themselves from internal fraud and abuse, while many do so with regulatory or standards compliance in mind.
It is interesting to note that, in many cases, the internal control system at many companies consists of volumes of instruction-like procedures that document activities. If a company is taking the time and effort to develop a procedure-based financial control system, it’s worth the additional effort it takes to:
Author: Steve Flick Published on: December 6th, 2010
Categories: Accounting & Internal Control, Business Process Improvement, Internal Control, Process Management, Sarbanes Oxley Compliance






