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Internal controls denote the regulations and procedures implemented by an organization to
provide oversight on the business operations to ensure the integrity of accounting information.
Internal controls are critical in aiding the firm to comply with laws and regulations as well as
minimizing fraud. The control measures focus on improving operational efficiency by enhancing
the accuracy and timeliness of financial reporting. In the wake of accounting scandals evident
since the 2000s, company owners and finance managers have to be aw...
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