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    Establishing Internal Controls

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    Who is responsible for establishing internal controls within the organization? What are some examples of effective internal controls? How can a company determine if the internal controls are effective?

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    https://brainmass.com/business/accounting-standards/internal-controls-170569

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    Control is the "final link in the management functions" (Robbins & Coulter, 2005, p. 459) and in which planning can occur throughout the organization. Top management is responsible for establishing internal controls within the organization.

    A company should have several internal control programs implemented such as, accounting control systems and administrative controls. An Accounting control system consists of financial records and procedures dealing with cash disbursements, cash receipts, purchase of goods and services, employee payroll, and sales or other rendering of goods and services. Functional responsibilities should be performed by separate people or departments. Specific techniques can be in place to appraise any specific procedures of cash, ...

    Solution Summary

    This response discusses internal controls within an organization and looks at who is responsible for establishing these controls.

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