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What is the relevance of Internal Controls in today's business environment?

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تم إضافة السؤال من قبل Dinesh Rana , Team Leader , Accenture Services Pvt. Ltd
تاريخ النشر: 2017/02/07
Jaswanth vutukuri
من قبل Jaswanth vutukuri , management trainee , Vantage Management Consulting

In the present day scenario each and every businesses formed are pacing up into large organiations. Which are eventually helping our countries to develop into a well versed global village. Considering the rate and pace of the organisation's governance has become an issue. To avoid all the issues and to have a unbaised governance structure an organisation should have a matured internal control system.

Fiona Pearl Edel Dsouza
من قبل Fiona Pearl Edel Dsouza , Senior Accountant , Dsouza Technical & Oilfield Services

Internal controls are the standards and rules used by companies to ensure that they achieve their stated goals in the marketplace. Profitability is not only achieved through high sales and meeting consumer demand, but also from controlling costs and limiting excessive spending. Management should on a regular basis review all aspects of their company and insert internal controls that will strengthen the company and increase profitability.

Mohamed Salim
من قبل Mohamed Salim , Financial Manager , Mediaedge Advertising Co.

Internal controls are very important in today's business environment to mitigate the risk to accepted low level.

Saqib Gulzar Khan
من قبل Saqib Gulzar Khan , Group Internal Auditor (management Position) , Abunayyan Holding Company

Today's business environment is very risky and competitive. Suitable internal controls therefore play a vital role for the sucess of an organization even survival in the recession

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