ABSTRACT
The concept of accounting and internal controls in any business enterprise is commonly accepted as the primary means by which the enterprise ensures that its assets are properly safeguarded and its financial records are accurate and reliable. Internal controls are generally designed to provide reasonable assurances that
transactions are performed only in accordance with management’s authorization;
transactions are recorded to allow proper preparation of financial statements and to provide accountability for assets;
access to assets is permitted only in accordance with management’s authorization; and
exsting assets are periodically compared to recorded assets and differences are addressed.
