ACCT 504 Discussion Internal Controls

ACCT 504 Discussion Internal Controls

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What is internal control, and what are the objectives of a good internal control structure in an organization?

Accounting question

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Internal controls are protocols and systems which safeguard a firm from losses due to issues such as theft or accident. ....and enhancing accuracy and reliability of accounting records. A companyÕs assets must be protected from employee theft, robbery and unauthorized use. Accuracy and reliability of a companyÕs accounting records is accomplished by reducing the risk of errors and fraudulent activities ...