Internal Control System is a topical issue following global fraudulent financial reporting and accounting scandals in both developed and developing countries. A proactive preventive approach to the problem required a cri

A variety of internal control techniques can help in preventing improprieties. The following points in this regard are worth mentioning: There should be clear division of the work. Segregation of the work should be in such a manner that the work done by one person is the beginning of the work for another person. There should be the clarity of the responsibility. The work flow process be documented or standardized so that the staff may perform the work as suggested in the work flow chart. No single persons should be allowed to have access or control over any important business operation. There should be job rotation of the staff duties periodically. Staff should be asked to go on mandatory leave periodically so that other person may come to know if someone is playing foul with the system. Persons having the charge of the important assets should not be allowed to have access to the books of accounts. Periodical inspection of the physical assets be carried out to ensure its physical existence as well in good working conditions. The valuable items like cash and others, by physically inspected and the periodicity should be at irregular intervals, so that the person under whose charge the assets are, cannot know in advance, when the inspection will take place and manage the affairs.