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What are Internal Controls

Internal Controls: Internal control includes the plan of organization and all of the coordinate techniques adopted within a business to defend its assets, ensure the accuracy and consistency of its accounting data, encourage operational efficiency, and persuade adherence to prescribed managerial policies. This definition identifies that a system of internal control expands beyond such matters that relate directly to the functions of accounting and financial departments.

Methods put in position by a company to make sure the integrity of financial and accounting information meet operational and profitability goals and transmit management policies all through the organization.

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