Internal Controls
Internal controls are the mechanisms, rules, and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud
Internal controls are the mechanisms, rules, and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud. Besides complying with laws and regulations and preventing employees from stealing assets or committing fraud, internal controls can help improve operational efficiency by improving the accuracy and timeliness of financial reporting
For example, Inventory control systems, Bank Reconciliations, Maker-Checker, Internal Audits, etc.
Experts at TaxFino are experienced to analyze the activities and business processes of your organization/Start-Up, irrespective of the industry and defining a robust Internal Control Framework.
- Helps protect assets and prevent fraud
- Protects your Company’s reputation
- Helps increase profits
- Increases Operational Efficiency of Organization
- Keeps your organization compliant with regulatory requirements
- Establishes monitoring procedures
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