As part of a financial statement audit, auditors are required to obtain an understanding of a company's internal control system. Internal control is an interconnected web of policies, procedures, ...

Internal controls are business processes that provide reasonable assurance regarding several key business objectives: that the business is operating efficiently, that reporting is reliable and that ...

A flow chart, or flow diagram, is a graphical representation of a process or system that details the sequencing of steps required to create output. A typical flow chart uses a set of basic symbols to ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Internal controls are a major part of any modern-day entity ...

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 ...

Internal fraud controls aren't fire-and-forget. Smart collaboration and ongoing improvement will help keep fraud in check. Here are the basics. There are several keys to effective prevention, but some ...