Internal control

Financial management and internal controls
Financial management and internal controls

Financial management and internal controls

As a business proprietor or manager, you comprehend the importance of financial management. One of the most critical aspects of financial management is implementing adequate internal financial controls. Internal financial controls are policies and procedures designed to safeguard a company’s…

Safeguarding assets with comprehensive internal controls
Safeguarding assets with comprehensive internal controls

Safeguarding assets with comprehensive internal controls

Internal Financial Controls (IFC) is a set of policies and procedures that an organization adopts to ensure its business’s orderly and efficient conduct. IFC includes: Adherence to the company’s policies. Protecting its assets, preventing fraud, and spotting mistakes. Accuracy and…

Internal Audit: Should You Conduct It Yourself Or Call Experts?
Internal Audit: Should You Conduct It Yourself Or Call Experts?

Internal Audit: Should You Conduct It Yourself Or Call Experts?

Checking the status of a company through an internal audit is necessary because only the constant strict control over the financial operations can guarantee the normal operation of the company, not exposed to harmful effects of mistakes, negligence, and fraud…

How to Assess Your Business Successfully
How to Assess Your Business Successfully

How to Assess Your Business Successfully

Today the concept of “internal audit” has become widespread in business. Many large enterprises and companies prefer to create their internal audit services and departments, training their employees. When deciding to conduct an internal audit, it is necessary to determine…