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Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127

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BuyFindarrow_forward

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127
Textbook Problem

Describe the elements common to most current definitions of internal control.

Summary Introduction

To explain: The elements common to most current definitions of internal control.

Introduction:

Accounting information systems:

It is an information structure which collects and manages data of an organization which can be utilized by analysts, managers, and other decision making authorities of an organization.

Explanation

The elements common to most current definitions of internal control:

Management integrity:

The moral character of the managers in the workplace defines the overall tone in the workplace. The management must enforce strict guidelines to ensure that the organization is committed towards a successful internal control system.

Competent personnel:

The ability to recruit and retaining personnel who are competent aids a business in maintaining consistent accounting records. The reliability of the organization depends on the personnel present in it.

Segregation of duties:

The proper segregation of duties is an important aspect of an internal control system...

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