GAO Standards for Internal Control

The GAO Standards for Internal Control are guidelines that help organizations ensure their operations are efficient and effective, financial reporting is reliable, and they comply with laws and regulations. These standards emphasize the importance of strong organizational structures, proper communication, and risk management to prevent errors and fraud. By implementing these controls, organizations can better achieve their goals and protect their resources, ultimately leading to improved accountability and transparency. The standards serve as a framework for assessing and enhancing internal control systems within various entities, including government agencies and non-profits.