Page 244 - F1 - AB Integrated Workbook STUDENT 2018-19
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Chapter 16
The purpose of internal control
2.1 The purpose of internal control
The purpose of internal control is implied by the definition given earlier, to help
management achieve the entity’s objectives, especially in terms of ensuring:
the orderly and efficient conduct of the business
the safeguarding of assets
the prevention and detection of fraud and error
the accuracy and completeness of the accounting records, and
the timely preparation of reliable financial information.
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