Mordinizing the Internal Control Systems
CHAPTER TWO: LITERATURE REVIEW
1.9 Introduction
2.0 Objectives of an internal control system
2.1 Identify customizable components 2.2 To identify factors that promotes the effective implementation of internal control system. 2.3 Challenges associated with internal control systems.
2.4 Limitations of internal controls
2.5 To identify the top rated types of internal controls. CHAPTER TWO
1.9 Introduction
The literature review for this study will be done on the following: to identify the objectives of an internal control system, to identify customizable components of common internal control systems in Ghanaian companies, to identify factors that promotes the effective implementation of internal control systems, to identify the common challenges associated with implementing internal control systems in Ghana and
To identify top rated types of internal controls systems used in Ghana in terms of their effectiveness for the companies using them.
Review of Internal Control Systems
According to the business dictionary, an internal control is defined as a systematic measure instituted by an organization to conduct its business in an orderly and efficient manner and also to detect errors,fraud and theft. It is also a measure to ensure accuracy and completeness of its accounting data and ensure adherence to its policies and plans.
Under COSO (the committee of sponsoring organizations of the treadway commission) also defines internal controls as a process, effected by an entitys board of directors, management, and other personnel, designed to provide reasonable assurance regarding the acheivement of objectives. DFA(Department of financial administration) defines internal controls as a process, effected by an entitys board of directors, management, and other personnel, designed to provide reasonable assurance regarding the acheivement of objectives in the
1.9 Introduction
2.0 Objectives of an internal control system
2.1 Identify customizable components 2.2 To identify factors that promotes the effective implementation of internal control system. 2.3 Challenges associated with internal control systems.
2.4 Limitations of internal controls
2.5 To identify the top rated types of internal controls. CHAPTER TWO
1.9 Introduction
The literature review for this study will be done on the following: to identify the objectives of an internal control system, to identify customizable components of common internal control systems in Ghanaian companies, to identify factors that promotes the effective implementation of internal control systems, to identify the common challenges associated with implementing internal control systems in Ghana and
To identify top rated types of internal controls systems used in Ghana in terms of their effectiveness for the companies using them.
Review of Internal Control Systems
According to the business dictionary, an internal control is defined as a systematic measure instituted by an organization to conduct its business in an orderly and efficient manner and also to detect errors,fraud and theft. It is also a measure to ensure accuracy and completeness of its accounting data and ensure adherence to its policies and plans.
Under COSO (the committee of sponsoring organizations of the treadway commission) also defines internal controls as a process, effected by an entitys board of directors, management, and other personnel, designed to provide reasonable assurance regarding the acheivement of objectives. DFA(Department of financial administration) defines internal controls as a process, effected by an entitys board of directors, management, and other personnel, designed to provide reasonable assurance regarding the acheivement of objectives in the