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oai:skemman.is:1946/261592022-07-20T12:14:59Zcom_1946_2059com_1946_2057col_1946_2066

Háskóli Íslands Sandra Thao Thu Thi Le 1993- Bjarni Frímann Karlsson 1949- This paper is concerned about the internal control. The internal control can be viewed as a management mechanism to help the managers to accomplish the organization’s goals and objectives. It also gives a reasonable assurance that the reporting information is adequate, reliable, and timely, as well as conforms to the current laws and regulations. Therefore, along with more and moretention of international researchers on the topic, the purpose of this paper is to analyse the conceptual foundations of the internal control.. This paper is arranged as followed. First, the overview of internal control concluding its definition and roles is discussed in detail. Second, the elements of internal control are analysed. There are five elements including control environment, risk assessment, control activities, information and communication, and monitoring. Thirdly, the effectiveness and assessment of internal control are presented. Finally, based on those basic foundations of internal control, the writer draws out its limitations. This paper is written based on various textbooks and articles from academic and reliable sources such as: the websites of The American Institute of Certified Public Accountants, American Accounting Association Pubs, Researchgate.net, Stanford, Pearson: Higher Education, and so on. 2016-09-16T13:15:42Z 2016-09-16T13:15:42Z 2016-09-16 2016-09-15T22:14:51Z 2016-12 http://hdl.handle.net/1946/26159 en Viðskiptafræði Innra eftirlit Internal Control Thesis Bachelor's