In business and accounting, information technology controls (or IT controls) are specific activities performed by persons or systems designed to ensure that business objectives are met. They are a subset of an enterprise’s internal control.
“IT controls are an essential component of an organization’s overall internal control that must be addressed by auditors. This article discusses general controls and the review of the general control, a must read for all auditors and their clients.”
The five Cs of credit is a system used by lenders to gauge the creditworthiness of potential borrowers.
The process of building a sustainable, comprehensive internal control environment sufficient to comply with section 404 of the Sarbanes-Oxley act of 2002 (SOX) requires a significant investment of organizational resources.
One of the scariest moments for any organization is an IRS examination, particularly when the IRS is questioning whether the organization has strayed outside of its exempt purpose.
In order to start the process of managing risk, one must first ask the question, “what risks am I willing to take?” or in other words “what is my risk tolerance?”