Can you imagine what life would be like if we lived in a world where there were no rules? People would do just what they wanted, how they wanted and when they wanted. It would be close to complete chaos!
Now, imagine if there were no rules in Accounting. A company could report any amount of income and expenses that they wanted to, and we would never know how sound this company was. That is exactly why ‘Internal Regulations’ are important. ‘Internal Regulations’ in Accounting are procedures that are put in place within an organisation to ensure business is carried out in an orderly, effective and accurate manner.
getsix® can help you with the four main purposes of ‘Internal Regulations’ in the Accounting industry.
1. Safeguard the assets of a company from any form of loss
The loss could be an accidental loss, which occurs from honest mistakes being made by individuals, or it could be an intentional loss, which results from intended fraudulent activities.
2. Ensure that financial information is accurate, reliable and timely
getsix® having experienced experts in the field of Accounting will guide you in all aspects.
3. Ensure compliance with national, state and local business laws
This is a very important purpose of internal controls. To ensure compliance in Poland, getsix® will pay special attention to the differences between Polish legislation and international accounting regulations.
4. Provide ways to monitor your own goals
Of course this is very important purpose of internal controls, allowing you to observe your successes and if any failures.