"Internal Control is the set of safeties contributing to the control of the Company. It aims, on one hand to ensure the protection, the assets preservation and information quality, on the other hand the respect of management instructions. All this in order to enhance good performances. It is characterized by organization, methods and procedures of each Company activities in order to preserve its going concern".


This is the definition that we find the most relevant and that we have learned more than 20 years ago.

Please note that the statutory auditors rely on the quality of internal control to limit or expand their work (in case of deficiencies). We can see the interest there is to consider the question, at least from a cost standpoint. Finally please note the similarities there may be with the ISO 9001, hence a legitimate feeling of redundancy, hence the tensions between finance department (usually experienced for years) and ISO auditors. Who has the prerogative and how to operate smoothly?

Observations usually made:

> Taken badly by the management and different departments as they get the impression to be limited in their power or to have further accountability.

> Apprehensions (illegitimate) about customers which we think they will either misunderstand or refuse to hear about the constraints that the Company has regarding revenue recognition.

> Often implemented and applied in a bureaucratic manner regardless of the size and constraints of the Company.

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