Internal Controls – Objectives & Implementation

An effective internal control system is more than a necessary evil required by internal or external auditors. It is simply good business. Why? An internal control system can help a company meet its goals both financially and operationally. It provides the assurance that transactions, communication and other activities are done in a consistent way throughout the company. The Sarbanes-Oxley Act (the Act) has codified management’s responsibility to ensure that they have effective internal…