Internal controls are business processes that provide reasonable assurance regarding several key business objectives: that the business is operating efficiently, that reporting is reliable and that ...

When I was in college, I had a course in internal controls taught by the professor my father had when he was in college. I don’t believe much has changed since my father learned about internal ...

Six areas on internal controls are essential. Controls should be considered a form of quality control. Internal controls should be sensible and efficient. Policies designed to control a demonstrable ...

The European Economic Reform White Paper of 2002 defines internal controls as creating standards for five key control components: As does SOX, the EU stresses that internal controls are the ...

Section 13(b)(2)(B) of the Securities Exchange Act of 1934 (“Exchange Act”) (“IAC Provision”) requires public companies to have “internal accounting controls” that, broadly speaking, are sufficient to ...

Are you an auditor engaged to audit an entity that is less complex? If so, you may wonder why you spend time on the audit evaluating internal control. This may seem like an exercise that is much more ...

The exhilaration of witnessing a company's growth and success, fueled by the tireless dedication of management and employees, is undeniable. As rewarding as that may be, it can be equally tragic when ...

DETROIT (Reuters) - General Motors Corp. has concluded that its internal controls on financial reporting are "ineffective," after a six-week delay in reporting 2006 results prompted by repeated ...

Internal accounting controls govern your financial system. "Management is responsible for developing and maintaining effective internal control," reports the U.S. Whitehouse Office of Management and ...