"Comprises control environment and control procedures. It includes all the procedures (internal controls) and policies adopted by the management of an entity to help in achieving management's objective of ensuring, as far as practicable,

• including adherence to management policies

• orderly and efficient conduct of its business

• safeguarding of assets

• prevention and detection of error and fraud

• accuracy and completeness of the accounting records and

• Timely preparation of reliable information.

Internal controls may be incorporated within computerised accounting systems. Though internal control system extends beyond those matters which relate directly to accounting system."