Define internal controls.© BrainMass Inc. brainmass.com March 4, 2021, 7:57 pm ad1c9bdddf
Control is the "final link in the management functions" (Robbins & Coulter, 2005, p. 459) and in which planning can occur throughout the organization. They will help them adhere to their strategic plan and quickly and efficiently and correct any variations or errors that have occurred. Internal Control activities are the policies, procedures, techniques, and mechanisms that enforce management's directives, such as the process of adhering to requirements for budget development and execution.
Internal control programs are critical to any organization, because without it the results could be chaotic. They help ensure that actions are taken to address risks. Control activities are an integral part of an entity's planning, implementing, reviewing, and accountability for organization's resources and achieving effective results.
Organization can have following control mechanisms:
? Top level reviews of actual performance,
? Reviews by management at the functional or ...
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