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Solid as a rock – The 5 pillars of internal controls (and how they fight fraud)
February / March 2014
Price: $225.00, Subscriber Price: $157.50
Word count: 1058
Abstract: For any type of company, the most effective overall way to combat fraud is to build a strong framework of internal controls. This article explains how businesses can heighten their odds of success by reinforcing five pillars; they involve ethics, segregation of duties, expansive controls, detailed records, and internal and external audits. A sidebar discusses Internal Control — Integrated Framework, a guidance document laying out a framework of 17 principles that businesses should follow for effective internal controls.