Why do you think internal controls are so critical for keeping track of cash assets?
Internal controls for a business are similar to checks and balances in the government; they are processes put in place to make sure things stay on the right track. [ Internal controls are useful for every business but are critical for companies with employees, especially employees who handle valuable assets. Retail businesses in which customers have direct access to small products can also
benefit enormously from internal control procedures. While internal controls are crucial for helping you detect dishonesty, they can also help you reduce the risk that simple mistakes will keep you from seeing your company's true financial picture.
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