Financial Controls 2: General Guidelines
This document helps define the scope of what we mean with the term “financial controls”. Basically they are processes that an organization uses to guide spending decisions and to monitor the flow of money (revenue and expenses).
The following list introduces examples of financial resources.
- Budgeting and forecasting
- Accounting and reporting systems
- Authorization and approval processes (including cash handling)
- Audits (external oversight)
- Training and education programs
- Document retention, data handling and storage
