Internal Controls

Methods put in place by a company to ensure the integrity of financial and accounting information, meet operational and profitability targets and transmit management policies throughout the organization.

Investopedia Says:
Internal controls work best when they are applied to multiple divisions and deal with the interactions between the various business departments. No two systems of internal controls are identical, but many core philosophies regarding financial integrity and accounting practices have become standard management practices.

Related Links:
Learn about how the way a company keeps its management in check can affect the bottom line. Governance Pays

People who are more likely to see events in their lives as being dependent on their own behaviour. They believe that if they perform well or poorly, appropriate consequences will follow. They do not consider luck as having much effect on their performance outcomes, and do not see their fate as being always in the hands of other people. Good athletes tend to be internal controls because they have learned that their abilities and efforts bring them reward and success. Compare external control.