The Committee of Sponsoring Organizations of the Treadway Commission, COSO, is dedicated to providing thought leadership through the development of comprehensive frameworks and guidance on internal control, enterprise risk management, and fraud deterrence designed to improve organizational performance and oversight and to reduce the extent of fraud in organizations.
Published in Chapter:
Assessment of the Internal Control System in the Accommodation Firm and Its Relation to Performance
Murat Erdoğan (Akdeniz University, Turkey)
Copyright: © 2019
|Pages: 22
DOI: 10.4018/978-1-5225-8494-0.ch012
Abstract
An effective internal control system will help achieve performance and profitability targets within the core objectives of the business, help to prevent the need for loss of resources, and ensure that financial reporting is realistic and reliable. The purpose of this chapter is to identify the components of the internal control system in the enterprise and to show whether these factors affect the firm performance. When the results of the study are evaluated in general, it has been determined that the elements of the internal control system of the companies have an effect on the firm performance. According to this, the control environment 1, the control environment 2, the risk evaluation, the control activities, the information and the communication, the monitoring variables are effective on the positive side and the control variables on the firm performance have positive effect on the firm performance of the operation bed capacity, the operation period, and the existence of the internal control unit.