Internal Controls
Internal controls are the processes by which a business accounts for operational efficiency, financial transparency, legal and regulatory compliance, and general ethical practices to steer their performance and growth. These processes are usually established by management and can cover activities ranging from administration to risk management. Some examples of internal controls include a separation of duties, access controls, record retention and verification of expenses.
If you want to set up internal controls within your business, use the toolkit and template as guides.
MSME Tools
Internal Controls Graphic Guide
This graphic guide explains what internal controls are, and how they should be used to manage efficiency and output management in businesses.
Enhancing Gulf Business Competitiveness
Evaluations of the Gulf Region’s economic sphere reveal that much of the business is carried out by Micro, Small, and Medium Sized Enterprises (MSMEs).