internal control system
- A system of controls, both financial and non-financial, set up by the management of a company to carry out the business of the company in an orderly and efficient manner. The system should ensure that management policies are adhered to, assets are safeguarded, and the records of the company's activities are both complete and accurate. The individual components of an internal control system are the individual internal controls.
Big dictionary of business and management. 2014.
Look at other dictionaries:
internal control system — A system of controls, both financial and non financial, set up by the management of a company to carry out the business of the company in an orderly and efficient manner. The system should ensure that management policies are adhered to, assets… … Accounting dictionary
Internal control — In accounting and organizational theory, Internal control is defined as a process effected by an organization s structure, work and authority flows, people and management information systems, designed to help the organization accomplish specific… … Wikipedia
internal control questionnaire — ICQ A document used by an auditor to assess the internal control system of an organization. Questions will be tailored to the cycle being audited; for example, the sales or revenue cycle will check that sales are authorized, goods are invoiced,… … Accounting dictionary
Control System Integrators Association — Formation 1994 Type Industry Association Headquarters Madison, WI Location United States Executive Director Bob Lowe … Wikipedia
Control system (disambiguation) — A control system is a device or set of devices to manage, command, direct or regulate the behavior of other devices or systems. A control mechanism is a process used by a control system. Control system may refer to: Contents 1 General control… … Wikipedia
control system — Means by which a set of variable quantities is held constant or caused to vary in a prescribed way. Control systems are intimately related to the concept of automation but have an ancient history. Roman engineers maintained water levels in… … Universalium
internal control — A physical or procedural mechanism that monitors and reduces *risk in an organization’s financial and operational activities. In its 1992 report *Internal Control Integrated Framework, the *Committee of Sponsoring Organizations of the Treadway… … Auditor's dictionary
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 • Hyponyms: ↑inventory control,… … Useful english dictionary
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
emission-control system — ▪ automotive technology in automotive engineering, means employed to limit the discharge of noxious gases from the internal combustion engine. There are four main sources of these gases: the engine exhaust, the crankcase, the fuel tank, and … Universalium