CONTROL POLICIES AND PROCEDURES Definition

Bookmark and Share

CONTROL POLICIES AND PROCEDURES are the policies and procedures that help ensure management directives are carried out. Those pertinent to an audit include performance reviews, information processing, physical controls and segregation of duties.

Learn new Accounting Terms

SYNTHETIC LEASE is a transaction that appears, from an accounting standpoint, as a lease, but as a loan from a tax standpoint; resulting in an off-balance sheet account of the financing and the tax benefits that accompany the financed asset.

PREFERRED CREDITOR is a creditor whose account takes legal preference for payment over the claims of others.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.