CONTROL AS A MANAGEMENT TOOL

Control, be it internal, operational, financial, accounting, administration or managerial, is important for eight (8) basic objectives.

1. To ensure the reliability and integrity of information.
2. To ensure assurance or comfort of compliance with policies, plans, procedures, laws, and regulations.
3. For safeguarding of assets and resources.
4. Producing economy, efficient and effectiveness of operations.
5. Maximising the usage of resources (be it financial, investment, assets and resources).
6. Accomplishment of organisation objectives, mission and goals, programmes and business.
7. Management accountability.
8. For corporate governancing.

Source - Josef Eby Ruin / Appointment / NST