Understanding Internal Controls

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Understanding . Internal Controls . A Reference Guide for Managing University Business Practices Understanding Internal Controls Table of Contents INTRODUCTION ........................................ ........................................ ........................................ ........................................ .1. OBJECTIVES ........................................ ........................................ ........................................ ........................................ ......1. SCOPE ........................................ ........................................ ........................................ ........................................ ...............2. BALANCING RISK AND control ........................................ ........................................ ........................................ .............3. CHARACTERISTICS FOR Internal control Internal control PROCESS.

Understanding Internal Controls provides an additional reference tool for all employees to identify and assess operating controls, financial reporting, and legal/regulatory compliance processes and to take action to strengthen controls where needed. By developing effective

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