Lawkidunya Banner

What are the Seven 7 Broad Principles of Internal Control

The seven broad principles are: Establish responsibilities; Maintain adequate records; Insure assets and bond key employees; Separate recordkeeping from custody of assets; Divide responsibilities for related transactions; Apply technology controls; Perform regular and independent reviews.

What are the Three 3 Basic Control Methods
Three basic types of control systems are available to executives: (1) output control, (2) behavioural control, and (3) clan control. Different organizations emphasize different types of control, but most organizations use a mix of all three types.

Leave a Reply

Your email address will not be published. Required fields are marked *