Chapter 14
This chapter addresses the responsibility of the small business controller regarding internal controls. It also defines internal controls; the value of internal controls; developing an internal control structure considering such factors as the control environment, risk assessment, control activities, information and communication, and monitoring and feedback; key elements to consider when designing a good internal accounting control structure; limitations of internal controls, and the overall responsibility for internal controls.
The Controller and Internal Controls
Perhaps one of the most important duties of the controller for a small business is the creation, supervision, and maintenance of financial accounting ...
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