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Internal controls over financial reporting
Author
Source
Tikrit Journal of Administration and Economics Sciences
Issue
Vol. 2, Issue 42 (30 Jun. 2018), pp.12-24, 13 p.
Publisher
Tikrit University College of Administration and Economic
Publication Date
2018-06-30
Country of Publication
Iraq
No. of Pages
13
Main Subjects
Financial and Accounting Sciences
Topics
Abstract EN
Financial reporting is a way that management uses to provide the necessary information to interested parties.
As a result, these information must be accurate and reliable in order to be useful.
Therefore, management is required to have in place an effective internal control system that prevents and detects any fraud or misuse of the assets.
The effective internal control system enables the management to provide reasonable assurance about the financial reporting.
Control systems help the management to assure the effectiveness and efficiency of company's operations and its compliance with regulations.
Thus, the control system helps the management to achieve its goals and to provide financial information that is reliable.
In order to implement good internal controls, companies must have control activities implemented by the internal control department.
These activities help to prevent, detect misuse and assure the effectiveness and efficiency of the operations.
Since management is the body who is responsible for the financial reporting, therefore they are responsible of having effective internal control system to help them achieve their goals.
American Psychological Association (APA)
Hamid, Asad Farhan. 2018. Internal controls over financial reporting. Tikrit Journal of Administration and Economics Sciences،Vol. 2, no. 42, pp.12-24.
https://search.emarefa.net/detail/BIM-937426
Modern Language Association (MLA)
Hamid, Asad Farhan. Internal controls over financial reporting. Tikrit Journal of Administration and Economics Sciences Vol. 2, no. 42 (2018), pp.12-24.
https://search.emarefa.net/detail/BIM-937426
American Medical Association (AMA)
Hamid, Asad Farhan. Internal controls over financial reporting. Tikrit Journal of Administration and Economics Sciences. 2018. Vol. 2, no. 42, pp.12-24.
https://search.emarefa.net/detail/BIM-937426
Data Type
Journal Articles
Language
English
Notes
Record ID
BIM-937426