internal control


internal control
noun
an accounting procedure or system designed to promote efficiency or assure the implementation of a policy or safeguard assets or avoid fraud and error etc.
Topics: ↑accounting
Hypernyms: ↑control

* * *

noun
: a system or plan of accounting and financial organization within a business comprising all the methods and measures necessary for safeguarding its assets, checking the accuracy of its accounting data or otherwise substantiating its financial statements, and policing previously adopted rules, procedures, and policies as to compliance and effectiveness

Useful english dictionary. 2012.

Look at other dictionaries:

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  • internal control — /ɪnˌtɜ:n(ə)l kən trəυl/ noun a system set up by the management of a company to monitor and control the company’s activities …   Dictionary of banking and finance

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  • Internal Control over Financial Reporting — (Interne Kontrolle über die Finanzberichterstattung), kurz ICoFR, hat insbesondere im Rahmen der Umsetzung des Sarbanes Oxley Actes (SOX) zunehmende Bedeutung erlangt. Bedeutung der Internen Kontrollen über die Finanzberichterstattung Interne… …   Deutsch Wikipedia