EFFICACY OF INTERNAL CONTROL AND CONTROLLING BUSINESS RISKS

Luminiţa Ionescu
Additional contact information
Luminiţa Ionescu: Spiru Haret University

Annals of Spiru Haret University, Economic Series, 2010, vol. 1, issue 2, 29-37

Abstract: Companies can gain additional efficiency in designing and implementing or assessing internal control by focusing on only those financial reporting objectives directly applicable to the company’s activities and circumstances, taking a risk based approach to internal control. It is important for any organization to have reliable financial data for internal decision-making purpose. Financial information is often useful in many internal decisions such as product or service pricing. This is why the most important function of the controller is to create and maintain the corporate financial control system. Today’s corporation operates in an increasingly complex environment and the controller’s role is to advice the management of current or future problems of the business environment or to prevent the fraud.

Keywords: internal control; business risks; control framework; efficacy of internal control (search for similar items in EconPapers)
JEL-codes: H83 M41 M42 (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.manecognitiva.ro/jurnals/spiru-haret-ec ... ionescu-luminita.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:sphecs:0044

Access Statistics for this article

Annals of Spiru Haret University, Economic Series is currently edited by Elena Gurgu and Constantin Mecu

More articles in Annals of Spiru Haret University, Economic Series from Universitatea Spiru Haret no. 13 Street Ion Ghica, Quarter 3, Bucharest, Cod postal: 030045, tel: (004021) 455.1000; 314.00.75; 314.00.76, fax: (004021) 314.39.08, e-mail: info@spiruharet.ro. Contact information at EDIRC.
Bibliographic data for series maintained by Aurelian A BONDREA () and Constantin Mecu ( this e-mail address is bad, please contact ).