Why are Internal Controls important? Just ask PNB

Lakshmisarvani09 Aug, 2023News

Internal controls are vital for institutions like PNB due to their role in safeguarding assets, ensuring accurate financial reporting, preventing fraud, and maintaining regulatory compliance. These controls establish a framework that guides operations, minimizes risks, and enhances overall efficiency. For PNB and other organizations, strong internal controls instill confidence among stakeholders, support effective decision-making, and promote ethical conduct, contributing to sustainable growth and success.