Accounting-Internal Control

What is the purpose of internal control? Why is internal control important? 1

Looking for an answer in about 125 or so words

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There are a number of key purposes of establishing the internal control system in a company. These include: Establishing protocols; it is a fact that by establishing internal controls, business owners normally establish procedures and protocols and their consultants and staff must follow. They expect them to follow as they perform their daily…

162 words