What is another word for internal control?
Pronunciation: [ɪntˈɜːnə͡l kəntɹˈə͡ʊl] (IPA) 
When it comes to managing a business, internal control is a crucial concept. It refers to the procedures and systems put in place to ensure that a business runs efficiently and effectively while minimizing the risk of fraud and errors. There are several synonyms for internal control, including internal audit, risk management, financial reporting, compliance, and governance. These terms all describe different aspects of internal control, and they are all necessary for ensuring that a business operates smoothly. By implementing strong internal control measures, a business can protect itself from financial losses, improve its reputation with stakeholders, and achieve greater success in the long run.
