Tuesday, November 28, 2023

The Importance of Internal Controls

Everybody needs money. Some have enough, some have enough and want more, some do not have enough, some do not have enough and will take shortcut to get more.

Every organization have assets to utilize and protect.

Every organization has cash flow to use effectively and to protect.

All of these are reasons to design, implement and operate an effective set of internal controls.

Other assets need protection as well.

Experts estimate US annual losses to employee theft, including embezzlement,  at $400B, that is Billion.

 


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