This definition reflects certain fundamental concepts: Internal control is a process. It is a means to an end, not an end in itself. Internal control is affected by people. It involves not only policy ...

The system of checks and balances that assists the complete and accurate recording of transactions is known as the system of internal control. This system provides assurance that recorded information ...

Internal Control is a system to provide reasonable assurance that organizational objectives regarding the reliability of financial reporting, effectiveness and efficiency of operations, and compliance ...