Internal Control Framework

An Internal Control Framework is a structured set of policies and procedures that organizations implement to ensure operational effectiveness, reliable financial reporting, and compliance with laws. It helps prevent errors, fraud, and mismanagement by establishing checks and balances within processes. Think of it as a system of guardrails that guide employees and management to act responsibly, safeguard assets, and achieve organizational goals efficiently. Properly designed controls enhance accountability and provide assurance that activities are conducted appropriately, reducing risk and promoting trust among stakeholders.