Running Head: INTERNAL CONTROL MEASURESInternal Control PrinciplesName:Tutor:Course:College:Date:1INTERNAL CONTROL MEASURES2IntroductionInternal control refers to a process that ensures that a system fully complies with theexisting rules and regulations, maintains effective financial systems, as well as runs itsoperations in an effective manner. Internal control is intended to primarily inhibit the occurrenceof errors or fraud activities that might compromise the institutional financial reports renderingthem inaccurate. Other constituents of internal control entail securing company assets againstunauthorized access, loss, as well as unwarranted acquisition or disposal. Well planned internalcontrols are also efficient in determining organizational employees who do not operate to the setorganizational standards (Wild et al., 2016). These control measures are put in place before thefinancial reports are issued to investors, creditors, as well as auditors. Internal control principlesare the measures incurred by management to ensure that it meets all its set goals as well asobjectives. The bible strongly discourages against fraud activities in any institution and pointsout that although the wealth gained from such activities might be sweet; it is useless in the longrun. Consequently, it is vital for organization to incur the right measure to help detect andprevent such activities from taking place (Luke16:10-13). These internal control principles areil ...
To Order an Original Plagiarism Free Paper on the Same Topic Click Here
Other samples, services and questions:
When you use PaperHelp, you save one valuable — TIME
You can spend it for more important things than paper writing.