The specific standards concern the following techniques.
Main Page Content
- Adequate records of all internal control systems and all transactions and events should be maintained.
- All transactions and events should be recorded promptly and accurately.
- All transactions and events should be authorized and executed by persons within the scope of their authority.
- Key duties and responsibilities in authorizing, processing, recording, and reviewing transactions should be separated.
- Adequate supervision is to be provided to ensure that internal control objectives are achieved.
- Access and accountability to assets and records should be limited to authorized individuals.