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 ...

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 ...

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 ...

If you don't have time to do it right, when are you going to have time to do it over? Consistent performance increases the reliability of operating transactions. Accounting operations are considered ...

The Fast Company Executive Board is a private, fee-based network of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. BY Stephen Nalley Effective ...

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 ...

An essential function of every finance-related job on campus is to safeguard the assets of the university through the development and implementation of a solid structure of internal controls. Such a ...

What are internal controls? The best definition I have come across is from Jonathan Marks, partner at BDO, who defined internal controls as: An internal control is an action or process of interlocking ...

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 ...