Definition:
"A process designed to provide reasonable assurance regarding the achievement of objectives in (a) reliability of financial reporting, (b) effectiveness and efficiency of operations, and (c) compliance with applicable laws and regulations." (Bodnar & Hopwood, 1998, p. 23)
The elements:
Control environment
Risk assessment
Control activities
Information and communication
Monitoring
The main methods of implementation:
Establishment of responsibilities within an organization
Maintenance of adequate records
Segregation of duties
Source: Bodnar, G. H. and Hopwood, W. S. (1998). Accounting Information Systems (7th ed.). Englewood Cliffs, NJ: Prentice Hall.
- 05/24/00 -