INTERNA KONTROLA (REVIZIJA) - FAKTOR PRAVILNOG UPRAVLJANJA FINANSIJSKIMI RAČUNOVODSTVENIM SISTEMOM

Abstract

Internal control is the subject of observation of various stakeholders, not only external auditors but also the board of directors, shareholders, as well as the state in the entities where it directly or indirectly performs control. Internal control is significant for the proper management of the financial and accounting system of the organization. Also, it is a vital link in the overall business and production system. Therefore, it is one of the most authoritative studies from which the definition of the term "internal control" arose. According to this definition, internal control is a process established and managed by the management (supervisory) board, management, and lower managers. The internal control should provide reasonable assurance about achievements of goals related to the categories as efficiency and effectiveness of business, quality of financial reporting, compliance with existing legislation and regularity of business, and protection of property from unauthorized use or alienation. Internal control should provide reasonable but not absolute assurance of the company's objectives. The goal is to achieve an adequately protected system composed of physical means (machines, tools), non-physical means (intellectual property, products obtained by expensive research and development processes), and documents (they can be stolen, destroyed, and lost or damaged ). The paper considers internal control through business controls and accounting controls. Business controls relate to the promotion of business performances and compliance with prescribed management policies and are significant when auditing the entire or some sectors of the company. Accounting controls relate to assets protection and the assurance that financial statements and records are reliable.