Books by Mustafa Canakcı

Internal control systems operate at different levels of effectiveness in a business entity. Determining whether a particular internal control system is effective and/or is a judgement resulting from an assessment of whether the five components - control environment, risk assessment, control activities, information and communication and monitoring- are present and functioning. Effective controls provide reasonable assurance regarding the accomplishment of established objectives. There is no such thing as a perfect control system in a business structure. The cost of implementing and inserting a specific control should not exceed the expected benefit of the control. Internal controls should reduce the risks associated with undetected errors or irregularities, but designing and establishing effective internal controls is not always a simple task and con not always be accomplished though a short set of quick fixes. I hope this book helps to explain the internal control concepts and gives you some ideas for improving your department's controls. Dr. Cem Niyazi Durmus