Free Internal Control Essays and Papers

Satisfactory Essays
Good Essays
Better Essays
Powerful Essays
Best Essays
Page 1 of 50 - About 500 essays
  • Better Essays

    Internal Controls

    • 1304 Words
    • 3 Pages

    Internal Controls Internal controls are all of the protocol and methods by which a company or organization protects its assets and ensures the correctness and reliability of its financial and accounting records. Tight internal controls are essential to any company that desires confidence in its stockholders and clients. Recent accounting scandals at companies such as Enron and Tyco have necessitated the need for strong internal controls and accounting procedures. As a result of these accounting

    • 1304 Words
    • 3 Pages
    Better Essays
  • Good Essays

    Internal Control

    • 852 Words
    • 2 Pages
    • 3 Works Cited

    There are two primary goals of internal control. The first goal is to keep assets safe from robbery, theft by the employees, and any other unauthorized use. The second goal is to assure the reliability and accuracy of the accounting records. This step is done to reduce the risks of mistakes, intentional or unintentional in the accounting process. The Sarbanes-Oxley Act was implemented in 2002. This act was implemented as a result of a number of accounting scandals that resulted in the loss of billions

    • 852 Words
    • 2 Pages
    • 3 Works Cited
    Good Essays
  • Better Essays

    Internal Controls

    • 1121 Words
    • 3 Pages

    Internal controls are increasingly a crucial part of any business large or small. Controls serve two purposes according to financial accounting chapter eight; they safeguard assets and enhance the accuracy and reliability of accounting records. Expanding on that concept internal controls are put in place as a result of activities that have occurred in the past and are an effort to protect internal and external users. Internal controls safeguard company assets by outlining fair and efficient regulations

    • 1121 Words
    • 3 Pages
    Better Essays
  • Good Essays

    Internal Controls

    • 902 Words
    • 2 Pages
    • 1 Works Cited

    Principles of Internal Controls According to Sarbanes –Oxley Act, all U.S corporations that are publicly traded are required to maintain adequate system of internal control. Internal controls were created to assist organizations and companies to reach specific objectives and goals. Simply explained “Internal controls” are procedures and actions which organizations or companies monitor them. By using Internal controls companies can increase the likelihood of meeting certain goals as well

    • 902 Words
    • 2 Pages
    • 1 Works Cited
    Good Essays
  • Good Essays

    Internal Control

    • 903 Words
    • 2 Pages

    Companies must have “Internal Control” to maintain principles and limitations. Internal controls are in place to help with securing the company from theft, robbery, and unauthorized use and enhancing the corrected and reliability of its accounting records by minimizing errors and making sure that are no unknown patterns in the accounting process. All U.S. corporations are required to have an adequate system of internal control because of the Sarbanes-Oxley Act of 2002 or the companies will be

    • 903 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    and effective internal control environment to ensure that the company is managed and controlled in a sound and practical manner. The internal control environment system is recognize as the main cause of the business.The presence of smooth internal control environment is necessary for well achieving the business objectives.According to O’Leary et al (2006) an adequate system of internal control is considered as critical to good corporate governance. Organization need effective controls in operating

    • 1458 Words
    • 3 Pages
    Powerful Essays
  • Good Essays

    Essay On Internal Control

    • 1044 Words
    • 3 Pages

    Internal control is the most important business practice of the company, and it ensures the accuracy and reliability of financial reporting and protects the resources from any fraudulent activities. As technology grows, the number of computer based crimes and fraud increases; however, it is possible to control this computer based crimes with effective and efficient internal control systems within the company. According to Whittington & Pany (2014), the impact of IT on the auditing process is great;

    • 1044 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Internal Controls Internal controls are measures that are an essential part of the business and financial procedures and policies of a company. These controls help to enhance the accuracy of accounting records, reliable financial reporting, compliance with the applicable laws and regulations, and efficient operations by reducing the risk of unintentional mistakes, intentional mistakes, and misrepresentations (Weygandt, Kimmel, & Kieso, 2008). Internal controls also assist with safeguarding the assets

    • 760 Words
    • 2 Pages
    Good Essays
  • Good Essays

    organisations to achieve integrity and accountability and infuse confidence among internal and external stakeholders (Van Rensburg, Oosthuizen, and Coetzee, 2016, p.191). Internal audit is often overlooked in the financial reporting process. We have noted that one of the objectives of internal audit function is to ensure that key operational, managerial, and financial information is accurate, timely, and reliable. Thus, internal audit is the first layer of objectively examining financial statement preparation

    • 837 Words
    • 2 Pages
    Good Essays
  • Good Essays

    various publicly traded companies throughout the country. With that much money involved, it is only wise that there be control measures and safeguards put into place protect these investments from any unlawful or irresponsible activity. Publicly traded companies are required by law to develop such measures. These measures are often referred to as internal controls. These internal controls exist for two main reasons. One reason being, to keep the employees honest. With so much money and other assets involved

    • 868 Words
    • 2 Pages
    Good Essays
Previous
Page12345678950