Internal control in small business

• Main Authors: An, Li Hui, Lee, Kai Nee, Lim, Lay Choo
• Other Authors: Tay Kok Leong
• Format: Final Year Project
• Language: English
• Published: 2015
• Subjects: DRNTU::Business::Operations management
• Online Access: http://hdl.handle.net/10356/63023
• Institution: Nanyang Technological University

In theory, management should maintain adequate internal control regardless of the size of the enterprise. However to many people, it is perceived that small businesses do not have and even do not need such a control. This project aims to look into the possibility of effective internal controls in small business given its inherent limitation of being small and the role internal control plays in the efficient, effective and economical running of the business. The case studies show that internal controls do exist in small businesses except for the really small ones and such controls aid in the running of the business from the owners' point of view. However benefits of such a control may be at times underestimated.