Internal controls are necessary to prevent mishandling of funds, safeguard against loss and protect employees from inappropriate charges by defining responsibilities in the cash handling process. The ...

Recent regulatory enforcement actions have reinforced a shift toward process-level scrutiny, with the SEC repeatedly citing ineffective internal controls over ...

Creating reports on the effectiveness of your company's internal controls is a way to promote accountability among employees and managers and encourage ethical behavior within the organization. Like ...

The Committee of Sponsoring Organizations grew out of a private sector initiative known as the Treadway Commission in 1987. COSO was tasked to develop and explain an integrated framework for the ...

Effective cash control is crucial for businesses of all sizes, as it helps prevent theft, fraud, and errors while maintaining financial health. The Fast Company Executive Board is a private, fee-based ...

When I was a junior accountant eons ago, my boss would always give me the cash to reconcile or audit, the minutes to “abstract,” and the internal control questionnaire to go over with the controller ...

Setting up internal controls is challenging for small and midsized companies. Generally, you don’t have that many employees, and they tend to wear multiple hats. The business processes that fuel ...

The Washington state Auditor’s Office said the Edmonds School District needs better internal controls over cash handling at Meadowdale and Mountlake Terrace high schools. The audit, which covered ...

Internal controls are measures adopted by the university to promote the thoughtful and efficient use of all resources. As an agency of New York State, the University at Buffalo is obligated to comply ...