control (noun, con-trol, \ kənˈtroʊl \) procedure (noun, pro-ce-dure, \ prəˈsiːdʒər \)
Definition: is a function, a procedure, or a policy that is employed in order to ensure the effectiveness of a business’s operation and the success of its management control. In other words, each control procedure within a certain business is aimed at reaching the defined objectives in the most efficient and effective way. Control procedures may take various forms and can be employed on any level of business. They include accounting, production, inventory, payroll control, etc. Control procedures are typically implemented by a person in charge or a management representative. However, in some cases, an external party may be hired in order to employ a control policy.
In a Sentence:
- The segregation of duties is one of the control procedures that needs to be implemented if we want to ensure the proper accounting process.
- This control procedure can be executed by Mr. Jones, the head manager.
- Being a part of other control procedures, audits and documentation are crucial to ensure a smooth operation of our business.
Synonyms and related words: internal control procedure, financial control, accounting control, quality control, payroll control, business procedure, policy
