What Is Internal Control

Internal control is an integrated process, implemented by the organization's management and staff, designed to provide reasonable assurance that the organization achieves its objectives and fulfills its mission. Internal control refers not only to financial transactions and reporting, but also to all controls covering management, administrative processes, strategy and other activities of the organization. Not all organizations have the same internal control system. Organizations and their controls differ according to their organizational structure, corporate culture and management philosophy.

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