The International Federation of Accountants’ PAIB (Professional Accountants in Business) committee has issued ‘Internal controls: A review of current developments’ - a publication warning firms that they need to strengthen and develop their internal control systems if they are to minimise business risk and protect shareholder value (see www.cimaglobal.com/icreview).
The paper builds on work by CIMA (the Chartered Institute of Management Accountants) and IFAC published in the report ‘Enterprise Governance: Getting the Balance Right’ (see www.cimaglobal.com/enterprisegovernance). Launched in 2004, the publication identified the need for companies to strike the correct balance between conformance and organisational performance.
See full Press Release.
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