INTERNAL CONTROL SYSTEM AND FRAUD PREVENTION

Abstract

Internal control system is a system is which all the activities control by the company of Board of director which is includes law and policies, goals and objectives, mission and vision statement, control the assets and liabilities. Internal control system has two types which includes administration control and accounting control both are important for the internal control of the organization. Basically it is a rule and procedure that also prevent fraud and promote accountability from stealing an assets or committing fraud. Through this control top level manager maintains their record efficiently and effectively. Internal control system plays important role in the organization through this company ensure the financial and accounting information. Internal control system utilizes the resource and they end up with sequentially and systematically in a proper manner way.