Accounting Control is the methods or procedures for safeguarding of assets and recording of financial transactions that is the integrity of internal financial information and accuracy of financial reports. Effective accounting control helps an organisation prevent and detect errors, fraud, and inefficiencies, ensuring that financial statements are accurate and trustworthy. Benefits of Effective Accounting Control: Accuracy in Financial Reporting; Compliance; Fraud Prevention; Operational Efficiency; Safeguarding Assets; etc.
Related Definitions in the Project: The Project Cost; Commercial Definitions