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Internal Control Systems
Internal control system is best regarded as the whole system of controls financial and otherwise made by the management in the conduct of a business entity which include internal check system, internal audit and other forms of controls.

The management lays down internal control. This system contains plan methods and procedures of work done by various departments of an entity. It is the total system of controls and includes two basic parts:

  1. Financial Control System - This part of internal control system deals with aspects relating to the financial matters. For example, control over bank accounts: control over cash in hand, bills payables, debtors and creditors.
    In this control system payments received by the organization and payments made by the organization are totally controlled. It ensures that cash may not be misappropriated. For maintaining such a control, proper entries in books of accounts have to be maintained regarding the receipt and payments of cash.

  2. Other Control Systems - Other Control Systems involve controls relating to the other activities of the organization. For example, production, advertising, marketing, quality etc.
What MNRS Offers
MNRS provides exclusive services in the area of development of Internal control systems. First of all we study the existing systems of internal controls, if any, and then correct the systems. We also try to lock all leakages of funds and process.
Contact for this Service
CA Neeraj Kumar Agarwal
Partner
e-mail: Neeraj@mnrsindia.com
Tel: +91 (11) 46502975
Telefax: +91(11) 29812975
Mob: 9313010417
     
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