Internal Controls in Accounting | Definition, Purpose & Examples
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Internal Controls in Accounting | Definition, Purpose & Examples
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Study.comRebekiah Hill
Clear, reliable financial reporting starts with understanding the core types of internal controls. Preventative controls help stop errors or fraud before they happen, while detective controls identify issues after they occur so they can be addressed quickly. Together, these controls create stronger oversight and support a healthier financial foundation for your organization. To learn more about this topic, tune into our podcast: https://www.hwllp.cpa/it-depends/strengthening-internal-controls-to
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Preventative and detective controls work together to reduce risk and strengthen financial oversight. Preventative controls stop issues before they occur, while detective controls identify problems quickly so they can be corrected with minimal disruption. A strong mix of both helps protect your organization, improve accuracy, and support audit readiness. #HantzmonWiebel #InternalControls #AuditReadiness #FinancialManagement #VirginiaCPA | Hantzmon Wiebel
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