Internal Control

Internal controls are the measures the company adopts to comply with internal and stockholder requirements (and, in some cases, regulatory requirements), promote operational efficiency and effectiveness, safeguard assets, and provide reasonable assurance of the accuracy and reliability of financial and accounting data to interested parties. Internal controls are an important part – arguably, the most important aspect – of the company’s risk management process. The following financial internal control procedures are designed to assist in developing and implementing a system of internal controls, which is crucial to ensuring and demonstrating compliance. Auditing, both internal and external, is considered the best method of verifying and ensuring the continued effectiveness of the company’s internal control system.

Standard Operating Procedure Templates

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