Internal Controls

 Accounting is not only recording, paying invoice, receiving money, and preparing financial reports. Accounting system should include internal controls to ensure the financial assertions and reliability of financial reporting. Therefore, we would like to explain the major controls over investment as follow.

Committee of Sponsoring Organizations of the Treadway Commission (COSO) developed the integrated framework control that consists five interrelated and equally important components:

1)      Control environment

2)      Risk assessment

3)      Control activities

4)      Information & communication

5)      Monitoring

For more detailed explanation of those five components for cash, please see below:

 Cash control environment


 Risk Assessment for cash 

 Control Activities



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