Internal control is the system of policies, procedures and actions a company uses to give it reasonable assurance that it can achieve its objectives. In everyday terms, a control is something the company does to prevent a problem, detect it, or ensure someone corrects it.
Consider Jengka Furniture Sdn. Bhd., a fictional company that sells furniture on credit. A warehouse employee delivers 20 tables, but the delivery note never reaches the accounts department. The customer receives the tables without being invoiced. A weekly check that matches delivery notes to invoices would help the company detect the missing sale. This example connects all five topics below.
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