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Regular version of the site

Article

Evaluation of Business Internal Control System and General Principles of Control and Auditing

Economia Aziendale Online. 2009. No. 2. P. 19-33.
Makarova L. G., Mulazzani M., Malyzhenkov P. V.

Internal control system (ICS) plays an important role in business management (except for small business units) as the complex of means for the well-ordered and effective administration of financial and economic activities.  ICS elements are aimed at the prevention and prompt reveal of the personnel misconduct and the malpractice of  administration of economic entities, any errors and falsification of accounting and reporting information. In the first quarter of the 20th century the main object of regard for control authorities becomes the internal control system of entities because with the effective system of internal control (or audit), the probability of accidental errors or fraud is low.