Page 163 - SBL Integrated Workbook STUDENT 2018
P. 163
Management internal control systems and reporting
4.2 Information characteristics and quality
The information received by management needs to be of a certain standard to be
useful in internal control and risk management and monitoring.
There should be an adequate, integrated, information system, supplying internal
financial, operational and compliance data and relevant external data.
The information should meet the criteria of 'good' information:
Accurate
Complete
Cost-beneficial
User-targeted
Relevant
Authoritative
Timely
Easy to use
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