Explore topic-wise InterviewSolutions in Accounts and Finance.

The Public Company Accounting Oversight Board (PCAOB) is a nonprofit corporation created by the Sarbanes–Oxley Act of 2002 to oversee the audits of public companies and other issuers in order to protect the interests of investors and further the public interest in the preparation of informative, accurate and independent audit reports. The PCAOB also oversees the audits of broker-dealers, including compliance reports filed pursuant to federal securities laws, to promote investor protection. All PCAOB rules and standards must be approved by the U.S. Securities and Exchange Commission (SEC).

INFO: Full form for OPBDIT is Operating Profit Before Depreciation, Interest, and Taxes in Accounts and Finance category
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INFO: Full form for IFBT is Industry Funds Banking Trust in Accounts and Finance category
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INFO: Full form for NIBT is Net Income Before Taxes in Accounts and Finance category
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INFO: Full form for IFPS is Interactive Financial Planning System in Accounts and Finance category
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INFO: Full form for EBIDTA is Earnings Before Interest, Tax, Depreciation & Amortization in Accounts and Finance category
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INFO: Full form for ACAP RM is Asocia in Accounts and Finance category
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INFO: Full form for GACPA is Government Association of Certified Public Accountants (philippines) in Accounts and Finance category
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INFO: Full form for BICPA is Beijing Institute of Certified Public Accountants in Accounts and Finance category
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INFO: Full form for CPAAOB is Certified Public Accountants and Auditing Oversight Board (japan) in Accounts and Finance category
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INFO: Full form for AECA is Asociacion Espanola De Contabilidad Y Adminsitracion De Empresas in Accounts and Finance category
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INFO: Full form for IE is Income & Expenditures in Accounts and Finance category
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INFO: Full form for LE is Line Entry in Accounts and Finance category
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INFO: Full form for LE is Limited Expense in Accounts and Finance category
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INFO: Full form for FL is Financial Loss in Accounts and Finance category
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INFO: Full form for DB is Declining Balance in Accounts and Finance category
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INFO: Full form for DB is Direct Bill in Accounts and Finance category
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INFO: Full form for IC is Incentive Compensation in Accounts and Finance category
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Internal control, as defined by accounting and auditing, is a process for assuring of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization.

It is a means by which an organization's resources are directed, monitored, and measured. It plays an important role in detecting and preventing fraud and protecting the organization's resources, both physical (e.g., machinery and property) and intangible (e.g., reputation or intellectual property such as trademarks).

At the organizational level, internal control objectives relate to the reliability of financial reporting, timely feedback on the achievement of operational or strategic goals, and compliance with laws and regulations. At the specific transaction level, internal controls refers to the actions taken to achieve a specific objective (e.g., how to ensure the organization's payments to third parties are for valid services rendered.) Internal control procedures reduce process variation, leading to more predictable outcomes. Internal control is a key element of the Foreign Corrupt Practices Act (FCPA) of 1977 and the Sarbanes–Oxley Act of 2002, which required improvements in internal control in United States public corporations. Internal controls within business entities are also referred to as operational controls. The main controls in place are sometimes referred to as "key financial controls" (KFCs).

INFO: Full form for BT is Bill To .... in Accounts and Finance category
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INFO: Full form for POS is Purchase of Service in Accounts and Finance category
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INFO: Full form for POS is Percentage of Sales in Accounts and Finance category
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