•RIMAL•IFRAH •SABILA•HIFZA

Sparkle Group

Internal control

DefinitionAccording to MEIGS“Internal control consist of all measures taken to provide management with assurance that everything is functioning as it should”

Internal control includes

1.Internal check

2.INTERNAL AUDIT

3.SAFETY MEASURES

WANT SOME EXAMPLES

•You lock home and your vehicle.

•You keep your ATM/debit card pin number separate from your card.

•You review bills and credit card statements before paying them.

•You expect your children to ask permission before they can do certain things.

Think about what YOU do?

Examples of INTERNAL CONTROL

Procedural control

STATIC CONTROL

REGULATORY CONTROL

Who is

Responsible for internal Control?

EVERYONE

Principles of internal control

No complete CONFIDENCE

SECRECY:No leak out the secrecy of business.

Division of work

Instruction in writing:By follow this point, company will get best result.

RECEIPT BOOK: It must be printed and

should have a CARBON COPY.

CLEAR CUT DUTIES:Only one job must be given to one person and will give best result.

INTERNAL CHECK:There must be a system by which the work done by one person is automatically checked by another person.

ROTATION OF DUTIES:No clerk remain on one job for long time.

Internal audit

If these point not fo

llow then YOU have

to bear loss.

And if you follow these points, then it will give best result, like this TREE because its roots are strong.(company stand like a tree)

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