Checklist for Internal Control System

Checklist for Internal Control System

Making an effective internal control system facilitates the management in monitoring a reliable and integrated financial system. It helps the making the auditing process more compliance with the regulations. It's really reduces the level of risk which might effect on the organization's financial issues (www.journalofaccountancy.com). The following is a formal checklist which might make the internal control system implementation more efficient:

S. No

Particular

Current Situation

1

Are all the prior audits are completed?

Yes

In process

No

2

Is there a proper implementation done on the basis of the prior audit reports?

Yes

In process

No

3

Is a comprehensive and the current charts of all ...