Role of internal control in company management procedures

theoretical aspect

Research output: Contribution to journalArticle

Abstract

Existence of the current economic conditions makes efficient company management a more important factor at companies and analysis of management procedures is an essential condition thereof. This analysis enables identification and assessment of the role of the inner control emphasizing that establishment of an efficient inner control system is one of the main company management instruments at major companies. Mastering and use of this instrument under the modern economic conditions create preconditions for achieving competitive advantage over other companies. The article deals with the functions, elements of the internal control and the place thereof in the company management procedures as well as the expedience of this control. The objectives of the internal control and the expected results thereof as well as the role of this control in management procedures provided in scientific readings have been identified and analysed. Therefore, assessment of the internal control in respect of strategic control and management control has been identified as the most important objective of the study. Theoretical analytical aspects are analysed in order to achieve this objective aiming to identify the factors influencing the place of the internal control in company management procedures and how this affected the internal control assessed from the managerial perspective.
Original languageEnglish
Pages (from-to)60-71
JournalPurushartha: a journal of management, ethics and spirituality
Volume7
Issue number2
Publication statusPublished - 2014

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Internal control
Economic conditions
Economics
Influencing factors
Competitive advantage
Strategic control
Factors
Strategic management
Management control
Competitive Advantage

Keywords

  • Internal control
  • Company management
  • Procedures

Cite this

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title = "Role of internal control in company management procedures: theoretical aspect",
abstract = "Existence of the current economic conditions makes efficient company management a more important factor at companies and analysis of management procedures is an essential condition thereof. This analysis enables identification and assessment of the role of the inner control emphasizing that establishment of an efficient inner control system is one of the main company management instruments at major companies. Mastering and use of this instrument under the modern economic conditions create preconditions for achieving competitive advantage over other companies. The article deals with the functions, elements of the internal control and the place thereof in the company management procedures as well as the expedience of this control. The objectives of the internal control and the expected results thereof as well as the role of this control in management procedures provided in scientific readings have been identified and analysed. Therefore, assessment of the internal control in respect of strategic control and management control has been identified as the most important objective of the study. Theoretical analytical aspects are analysed in order to achieve this objective aiming to identify the factors influencing the place of the internal control in company management procedures and how this affected the internal control assessed from the managerial perspective.",
keywords = "Internal control , Company management , Procedures",
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AU - Giriunas, Lukas

AU - Giriuniene, Gintare

PY - 2014

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N2 - Existence of the current economic conditions makes efficient company management a more important factor at companies and analysis of management procedures is an essential condition thereof. This analysis enables identification and assessment of the role of the inner control emphasizing that establishment of an efficient inner control system is one of the main company management instruments at major companies. Mastering and use of this instrument under the modern economic conditions create preconditions for achieving competitive advantage over other companies. The article deals with the functions, elements of the internal control and the place thereof in the company management procedures as well as the expedience of this control. The objectives of the internal control and the expected results thereof as well as the role of this control in management procedures provided in scientific readings have been identified and analysed. Therefore, assessment of the internal control in respect of strategic control and management control has been identified as the most important objective of the study. Theoretical analytical aspects are analysed in order to achieve this objective aiming to identify the factors influencing the place of the internal control in company management procedures and how this affected the internal control assessed from the managerial perspective.

AB - Existence of the current economic conditions makes efficient company management a more important factor at companies and analysis of management procedures is an essential condition thereof. This analysis enables identification and assessment of the role of the inner control emphasizing that establishment of an efficient inner control system is one of the main company management instruments at major companies. Mastering and use of this instrument under the modern economic conditions create preconditions for achieving competitive advantage over other companies. The article deals with the functions, elements of the internal control and the place thereof in the company management procedures as well as the expedience of this control. The objectives of the internal control and the expected results thereof as well as the role of this control in management procedures provided in scientific readings have been identified and analysed. Therefore, assessment of the internal control in respect of strategic control and management control has been identified as the most important objective of the study. Theoretical analytical aspects are analysed in order to achieve this objective aiming to identify the factors influencing the place of the internal control in company management procedures and how this affected the internal control assessed from the managerial perspective.

KW - Internal control

KW - Company management

KW - Procedures

M3 - Article

VL - 7

SP - 60

EP - 71

JO - Purushartha

JF - Purushartha

SN - 0975-024X

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ER -