1. Internal control
... business to safeguard its assets, check the accuracy and reliability of accounting data, promote operational efficiency and encourage adherence to prescribed managerial policies. OBJECTIVES OF INTERNAL CONTROL COMPLETENSE All valid transactions should be recorded and client's procedures must provide control to prevent the omission of transactions from the records. VALIDITY -Recorded ... internal control some general characteristics may be identified. Proper segregation of functional responsibilities A system of authorisation, recording and adequate procedures to provide accounting contr...
- Word Count: 722
- Approx Pages: 3
- Grade Level: Undergraduate