Internal control ◆ Internal Check ◆ Internal control C Internal Control Structure Q Internal Control-----Integrated Framework ◆ERM Task Team of FUndaMientalactoUntING Business Sehool. Sun Yatsen niversity
6 Internal Control ⧫Internal Check ⧫Internal Control ⧫Internal Control Structure ⧫Internal Control-----Integrated Framework ⧫ERM
Internal control What is internal control? Q It is the organizational plan and all the related measures that an entity adopts to. n safeguard assets, n encourage adherence to company policies, n promote operational efficiency, and d ensure accurate and relia ble accounting records Task Team of FUndaMientalactoUntING Business Sehool. Sun Yatsen niversity 7
7 Internal Control ⧫What is internal control? ⧫It is the organizational plan and all the related measures that an entity adopts to… safeguard assets, encourage adherence to company policies, promote operational efficiency, and... ensure accurate and reliable accounting records
=。c System of Internal eRtEl Characteristics of an effective internal control system include n Competent, relia ble, and ethical personnel D Assignment of responsibilities a Proper authorization n Separation of duties Task Team of FUndaMientalactoUntING Business Sehool. Sun Yatsen niversity
8 Establishing an Effective System of Internal Control ⧫Characteristics of an effective internal control system include: Competent, reliable, and ethical personnel Assignment of responsibilities Proper authorization Separation of duties
Separation of Duties Separation of operations from accounting Separation of the custody of assets from accounting Separation of the authorization of transactions from the custody of related assets Separation of duties within the accounting function Task Team of FUndaMientalactoUntING Business Sehool. Sun Yatsen niversity
9 Separation of Duties Separation of operations from accounting Separation of the custody of assets from accounting Separation of the authorization of transactions from the custody of related assets Separation of duties within the accounting function
Internal controls for e-Commerce Stolen credit card numbers Computer virus and Trojan horses In personation of companies Task Team of FUndaMientalactoUntING Business Sehool. Sun Yatsen niversity 10
10 Internal Controls for e-Commerce Stolen credit card numbers Computer virus and Trojan horses Impersonation of companies