Treat internal financial controls as business necessity, not as compliance burden: ICAI official

Strong internal financial controls are crucial for businesses, not just for compliance, according to the ICAI President. He emphasized that robust internal mechanisms help identify risks and prevent financial leakages, urging entrepreneurs to prioritize them for their own benefit. This advice comes amid recent governance concerns in the financial sector, highlighting the interconnectedness of good governance and effective internal controls.

Raccontata daeconomictimes.indiatimes.com