Internal control, decision making, and effective management are at the core of fighting fraud in the private and nonprofit sector. It is unfortunate that management and those charged with governance do not give sufficient attention to the importance of the linkages between internal control and decision making.
Internal control is the foundation of the decision making and decision making processes. Effective decision maker should be able to consume effectively and efficiently reliable and proper information. Unless private and nonprofit management have effective decision makers, they will continue to suffer from all kinds of fraud that will cost their stakeholders too much money, pain, and most importantly trust in the justification of their existence.
I wrote this commentary based on the following article that appeared in "THE ATLANTA JOURNAL-CONSTITUTION"
Internal control is the foundation of the decision making and decision making processes. Effective decision maker should be able to consume effectively and efficiently reliable and proper information. Unless private and nonprofit management have effective decision makers, they will continue to suffer from all kinds of fraud that will cost their stakeholders too much money, pain, and most importantly trust in the justification of their existence.
I wrote this commentary based on the following article that appeared in "THE ATLANTA JOURNAL-CONSTITUTION"
