Policies and procedures established to provide management with reasonable assurance that the objectives of an entity will be acheived
Policies and procedures used by management to meet their objectives, including:
-Segregation of duties
-Proper procedures for authorization
-Physical control over assets and records
-Adequate documents and records
-Independent checks on performance
A report issued by an independent CPA to evaluate whether a company's financial statements fairly report its financial position, operating results, and cash flows in accordance with generally accepted accounting principles.