Read Also Component of Accounting and Internal Control System
Definition of Terms
What is Accounting system:
refers to the systems and procedures that management has put in place to ensure that the company maintains proper books of accounts.
Define Control environment:
This refers to the overall attitude, awareness and actions of directors and management regarding the internal control system and its importance in the entity.
What is Internal Audit
This is a control function set up by management to review the accounting and internal control systems
What is Internal Control
an internal control systems consists of all the policies and procedures (internal controls) adopted by management of an entity to assist in achieving management’s objective
