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10 Types of Internal Controls

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Internal controls are structures, processes, practices, reports, measurements and systems that are put in place to implement an organization's strategy and enforce compliance. The following are common types of internal controls.

Financial

Financial controls such as adopting an accounting standard and segregation of duties.

IT Controls

Controls related to IT operations and information security. For example, a process of approvals for adding user permissions to a system.

Change Control

Controlling change to assets such as software. For example, a change control board.

Project Controls

Control of projects using project management, risk management and project governance processes.

Risk Control

The process of identifying and controlling risk such as a know your customer process for reducing credit risk.

Compliance Controls

Controls that are directly related to compliance such as a process of disclosing executive compensation to external stakeholders.

Safety Controls

Safety controls such as a preflight checklist for pilots.

Human Resources Controls

Controls related to employee performance and organizational culture. For example, a process of employee performance reviews and disciplinary policies.

Operational Control

Controls related to an organization's core business processes such as a process of reporting key metrics to senior management.

Quality Control

The testing of products and services to ensure conformance to specifications and policy.
Overview: Internal Controls
Type
Definition
Structures, processes, practices, reports, measurements and systems that are put in place to achieve objectives, manage risk and achieve compliance.
Related Concepts

Internal Controls

This is the complete list of articles we have written about internal controls.
Change Control
Compliance
Conformance
Control
Credit Risk
Fat Fingers
Governance
Internal Controls
IT Controls
Management
Metrics
Risk Control
Risk Management
Specifications
Work Process
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