Internal Control: A Business Necessity

Internal control plays a fundamental role in the management and direction of organizations, allowing companies to protect their assets, prevent fraud and embezzlement, improve operational efficiency and ensure compliance with legal regulations and ethical standards. In addition, effective internal control also contributes to decision making based on accurate and timely information, promoting transparency and accountability. This article aims to analyze the importance of internal control in the business field, detailing its objectives, components and benefits. Through this analysis, it is evident how internal control becomes a business necessity to ensure correct decision making. To do so, a search for information was carried out in various bibliographic sources. As part of the results, the components of COSO are described, which is made up of five interrelated components of equal importance.