General Internal Controls
The most important control over property, plant and equipment
asset register
Internal controls that aim to:
- safeguard assets
- accurate and reliable accounting data
Accounting controls
- operational efficiency
- adherence to prescribed managerial policies
Administrative controls
This type of controls is achieved by:
- personnel control (appropriate staff)
- quality control (production inspection, analysis)
- supervisory control (supervision and delegation of work)
- other risk management procedures
Administrative controls
This type of control is achieved through:
- reliable, competent personnel
- verification
- authorisation
- fixing responsibility
- separation of duties
- adequate and accurate documents and records
- physical controls and security
Accounting controls