internal control

noun

: a system or plan of accounting and financial organization within a business comprising all the methods and measures necessary for safeguarding its assets, checking the accuracy of its accounting data or otherwise substantiating its financial statements, and policing previously adopted rules, procedures, and policies as to compliance and effectiveness

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Dictionary Entries Near internal control

Cite this Entry

“Internal control.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/internal%20control. Accessed 23 Jun. 2024.

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