Internal control refers to all kinds of organizations, methods and processes developed by the administration in order to ensure that activities are carried out in accordance with the determined policies and legislation, resources are used effectively, economically and efficiently, assets are protected, and financial and non-financial controls that cover internal auditing.
Internal control is not only related to financial transactions and reporting; it refers to all controls applied on the scale of compliance and performance, covering management, administrative processes, the institution's strategy and other activities and operations. This process is a dynamic process that covers everything that affects the use of resources and in which all employees play a role in the realization of the institutions' missions. Internal control should be suitable for the nature and needs of the institution.
The European Union has adopted COSO's standards in the field of public internal control. Within the framework of the negotiations with the European Union, it is aimed to ensure the compatibility of our internal control system with EU practices. In this context, our legislation has been created by the Ministry of Treasury and Finance in accordance with COSO's internal control standards.
