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Accounting Standards

ACCA report warns of challenges for internal control within organisations

Respondents were asked the purpose of internal control in an entity, with 88% saying it minimises risk, 84% cited prevention of fraud, and 77% the protection of assets

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A new report from the Association of Chartered Certified Accountants (ACCA) has revealed the purpose and effectiveness of internal control are being tested “like never before” by myriad external pressures. The Internal Audit Foundation and the Institute of Management Accountants (IMA) are said to have contributed to the report.

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