Internal Control is a good field to master but it is a long way because you need to learn a lot of
terminologies.These terminologies prevent you from imagining of what interna control is.

I describe what internal control is in my way.

First, we start with an easy interpretation of internal control.

Internal control is defined as a process performed by everyone in an organization and incorporated in its operating activities in order to provide reasonable assurance of achieving four objectives: effectiveness and efficiency of business operations, reliability of financial reporting, compliance with applicable laws and regulations relevant to business activities, and safeguarding of assets. Internal control consists of six basic components: control environment, risk assessment and response, control
activities, information and communication, monitoring, and response to IT (Information Technology). (quated from On the Setting of the Standards and Practice Standards for Management Assessment and Audit concerning Internal Control Over Financial Reporting (Council Opinions) provisonal translatiton 2007)

Simply this definition saying, it has 4 objectives and 6 elements. So let’s begin with what 4 objectives are.