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The Concept of Internal Control

What is Internal Control? Internal control is a very special phrase in the accounting profession. Tactically, it’s the set of processes that help a company produce accurate data throughout the organization. It follows reporting requirements and laws, and maintain consistency and accuracy in its operations. Strategically, it’s an entirely new way of thinking and doing business. Internal control helps to reduce organizational risk. It is what you put in place to avoid mistakes, intentional Read more [...]