internal control definition

internal control

Systematic measures (such as reviews, checks and balances, methods and procedures) instituted by an organization to (1) conduct its business in an orderly and efficient manner, (2) safeguard its assets and resources, (3) deter and detect errors, fraud, and theft, (4) ensure accuracy and completeness of its accounting data, (5) produce reliable and timely financial and management information, and (6) ensure adherence to its policies and plans.

internal control is in the Entrepreneurship, Management, & Leadership subject.

internal control appears in the definitions of the following terms: performance audit, accounting procedure, accounting control system, administrative control system, control risk, internal audit, audit trail, alliance, service bill of lading and checks and balances

This content can be found on the following page:

http://www.businessdictionary.com/definition/internal-control.html