What is internal control?

What is internal control? What are the uses of the internal control?

Expert Solution

Step 1: Definition of internal control

The organizational plan and all the related measures adopted by an entity to safeguard assets, encourage employees to follow company policies, promote operational efficiency, and ensure accurate and reliable accounting records.

Step 2: Meaning of internal control

The main aim of internal control is to accomplish the goals of the company. The main aim of internal control is to safeguard assets, encourage company employees to company policy, promote operational efficiency, and ensure reliable and accurate accounting records.

Internal control helps the company to manage its activities.

Komal Hooda answered 2 years ago

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What is internal control?

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