Accounting Control

Accounting Control

Quality control for a company's accounting practices. That is, accounting control is the series of processes a company undertakes to ensure accuracy in its financial reporting.
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A new password-protected close date feature that allows accountants to improve accounting control over changes to prior periods; and
The report went on to say that "the Auditing Standards Board should revise the auditor's standard report to describe the extent to which the independent public accountant has reviewed and evaluated the system of internal accounting control.
To take one example, some participants initially wanted internal control defined narrowly, much the way internal accounting control has been defined in certain auditing literature.
A year later, the American Institute of CPAs special advisory committee on internal accounting control embraced the concept and the SEC made its first proposal requiring management reports.
Ray Whittington, interim dean of DePaul's College of Commerce and director of its accountancy school, attributes the jump to the new accounting controls and auditing requirements mandated by the Sarbanes-Oxley Act (SOX).
Greenwell's responsibilities include all internal and external financial reporting, budgeting, analysis and internal accounting controls.
And the reasons have little to do with accounting controls.
Additionally, a visit back to basic internal accounting controls is always time well spent.
In addition, companies should establish and maintain internal accounting controls.

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