Based on the above inputs, answer the following questions: Discuss the efficacy of the Internal Financial Control System of Newgen Technologies Limited.

The Internal Financial Control System of the NTL is more or less efficient. The reasons are given as below: Recording and providing reliable financial and operation information. Safeguarding assets. Ensuring compliance with corporate policies. Well defined delegation of power. Efficient ERP system. Internal audit by one of the big audit firm. Periodic audit by specialized third party consultants. And, finally Audit Committee found internal financial control adequate which shows that NTL has a good Internal Financial Control System.