{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Stacyu03a2[1] - Internal Controls 1 Internal Controls u03a2...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Internal Controls 1 Internal Controls- u03a2 Jennifer Stacy BUS3060 – Fundamentals of Finance and Accounting October 27, 2010 Maureen Steinwall
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Internal Controls 2 Introduction The reason that Internal Controls for cash are important to a company is because agency managers are responsible for managing the resources entrusted to them to carry out government programs. A major factor in fulfilling this responsibility is ensuring that adequate controls exist. Adequate internal controls allow managers to delegate responsibilities to subordinate staff and contractors with reasonable assurance that what they expect will happen, actually does. The concept of accountability is intrinsic to the governing process. Public officials, legislators, and taxpayers are entitled to know whether government funds are handled properly and in compliance with applicable laws and regulations. They need to know whether government organizations, programs, and services are achieving the objectives for which they were authorized and funded. A key factor in achieving these objectives and minimizing operational problems is the implementation of appropriate internal control.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}