Also, internal control in the American Institute of Certified Public
Accountants (AICPA)’s statements of auditing standards is a process-affected by an
entity’s board of directors, management, and other personnel designed to provide reasonable assurance regarding the achievements of objectives. Internal control is a
process designed to provide reasonable assurance regarding the achievement of
objectives in three categories: effectiveness and efficiency of operations, reliability of
financial reporting, and compliance with applicable laws and regulations (Committee of
Sponsoring Organizations of the Treadway Commission: COSO, 1992).