Internal controls can be thought of as checks and balances to prevent errors and losses in various areas of a business. Good inventory controls prevent losses and misstatements while helping in ...

Establishing a systematic set of procedures in a clothing store is necessary to prevent or minimize inventory losses, cash pilferage, unnecessary expenses and other problems that will cause your ...

Each department is responsible for safeguarding the university’s assets, whether those assets are in the form of cash, merchandise or supplies. A system of internal control is needed to ensure that ...

In its most recent guidance for compliance with Sarbanes-Oxley section 404 requirements for smaller entities, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) has provided ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

You’re working hard to grow your business, but are you aware of the steps you need to take to protect your business? Your business is an asset and needs to be secure against theft and other damages.

Internal control is relevant to everyone in the workplace. It represents our moral responsibility to understand and comply with University policies and procedures, as well as to hold ourselves and one ...

This post continues my exploration of internal controls and how companies can demonstrate compliance with the internal controls requirement under the Foreign Corrupt Practices Act (FCPA) by adhering ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. When looking ahead to a new year, make sure your business ...

What are internal controls? The best definition I have come across is from Jonathan Marks, partner at BDO, who defined internal controls as: An internal control is an action or process of interlocking ...

This policy establishes a framework for a system of internal controls and communicates the university’s internal control objectives. The university’s internal control program is a system of ...