Internal Control System a plan that includes the organizational structure and all the methods and tools that are coordinated which are used within the company for the purpose of maintaining the security of company property, checking the accuracy and correctness of accounting data, promote efficiency, and help encourage compliance with management policies that have been set.
From the above definition we can see that the purpose of the internal control:
1. Keeping the wealth of the organization.
2. Checking the accuracy and correctness of accounting data.
3. Encouraging efficiency.
4. To encourage compliance with management policies.
Judging from these objectives, the internal control system can be divided into two, namely the Internal Accounting Control (Preventive Controls) and the Internal Control Administrative (Feedback Controls).
Accounting Internal Control made to prevent inefficiencies whose purpose is to maintain the company's assets and checking the accuracy of accounting data. Example: the separation of functions and responsibilities among organizational units.
Administrative control is made to encourage efficiency and encourage compliance with the policy of management. (Done after the accounting control) Example: inspection reports to look for irregularities that exist, to then take action.
Elements of Internal Control
- Control Environment
- Accounting System
- Control Procedures
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