SCOPE OF INTERNAL CONTROL SYSTEM :

It is very important to have an internal control system for an organisation. There is no universal model of internal control, system. It is up to every company to design an internal control system which is suitably adapted to its situation. Internal control is neither limited to a set of procedures nor to financial controls. Operational control such as quality control, work standards, budgetary control, periodic reporting, policy appraisal, quantitative controls etc are all parts of internal control system.